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On November 6th, Tuesday, OKEx, a popular cryptocurrency platform announced it had launched Bitcoin / XRP pairs [BTC/XRP] and Bitcoin / Litecoin [BTC/LTC] for margin trading in the public interest. Trading will be online for users starting at 7:00 UTC today.
"NEW COUPLES OF MARGIN TRADING: To meet the public's demand, we will open the XRP / BTC and LTC / BTC margin exchange pairs from 08:00 on 6 November 2018 (CET)."
Margin trading does not take place as in regular trading, where an investor buys and sells an asset with his own purchasing power. Rather, the trading margin allows you to borrow a loan from a broker or buy shares to increase purchasing power. Furthermore, this type of trading also requires a separate margin account. However, OKEx filed a disclaimer for its users and wrote:
"As a friendly reminder, the margin of negotiation involves the acquisition of funds to increase the purchasing power, it gives greater profit potential but also greater risks.We suggest you carefully evaluate your planned investments in light of the your knowledge, experiences, financial positions and objectives. "
The news comes in sync with the bullish rise in the cryptocurrency market, in particular XRP. The currency today has rallied more than 13% in the 24-hour scenario. The reasons assumed were the extended and extended adoption of xRapid, a significant tool in Ripple to help remittance industry become more efficient.
It is believed that two of the large companies adopt xRapid for their services, namely SendFriend, which is closely associated with MIT and SBI Group, which will lead XRP to widespread use for a project under R3, as stated by the CEO of the institute , Yoshitaka Kitao, last week.
At the time of writing, XRP is trading at $ 0.53 with a market capitalization of $ 21.5 billion. The market currently shows a 15.45% pop with a 24 hour trading volume of $ 980.7 million.
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