Home / Ripple / It's official: Binance will add XRP as a base pair, as Crypto Exchange provides Ripple Community with a holiday gift

It's official: Binance will add XRP as a base pair, as Crypto Exchange provides Ripple Community with a holiday gift

Binance CEO Changpeng Zhao says that XRP will become a core pair on the major cryptocurrency exchange.

The ad follows a steady campaign by the Ripple and XRP community, which has been lobbying for months, asking Zhao to match a wide range of coins with XRP.

Using the hashtag #XRPthebasethe supporters of Ripple and XRP have pushed to convince Binance that the addition of XRP as a base pair is ideal for cryptocurrency trading, due to the speed of the digital resource. They also say that the widespread adoption of XRP as a base pair could reduce the overall market dependency on the price of Bitcoin.

Arbitrage traders, who sell coins among the stock exchanges to exploit the small price differences of the same cryptocurrency that is trading on various platforms, can also take advantage of XRP's speed and ability to settle the trades faster and cheaper .

Zhao has not announced which coins will be combined with XRP. However, it will give priority to the projects they donated to the company's charity fund.

XRP is currently the second largest cryptocurrency by market capitalization, after Bitcoin. Binance is the main exchange of cryptocurrency by volume, according to data compiled by CoinMarketCap. Adopting XRP as a base pair will affect markets, influence stability or create confidence for cryptocurrency traders.

Bitcoin currently has a significant advantage over other altcoins. With a market capitalization of $ 74.4 billion, the Bitcoin domain is 51.2% of the XRP's capitalization of $ 17.33 billion and 11.9% dominance.

So far, there is no exact date where Binance will implement XRP as a base pair.

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Disclaimer: the opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and operations are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital assets, nor The Daily Hodl is an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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