Cryptographic exchange Binance added Ripple's XRP as the base currency on the exchange. With this announcement, it means that XRP will now be used more as a primary resource that can be used to make purchases of other cryptocurrencies listed on the platform. Although some minor digital exchanges have already added XRP with other alternative currencies and legal currencies, this will mark the first such list on a superior cryptographic exchange. Binance is launching the TRX / XRP (Tron) and XZC / XRP (Zcoin) pairs.
Changpeng "CZ" Zhao, CEO of Binance, flirted with the idea of making this move at the start of the year, signaling via Twitter that the company was planning something in this direction.
The XRP community has rallied to unanimity, believing it should be added as a basic pair on Binance. A user on Twitter with the username "C3 | Nik" asked Zhao to list the currency as a pair of bases for the exchange. Zhao did not answer, but another Twitter user with the username "izombieXRP" asked him to perform the same action or give him a Camaro.
In response to the "izombieXRP" tweet, Zhao teased the user, saying "Watch what you want. :)"
Days later, Zhao officially announced the announcement via his Twitter account.
We will add a couple of trading pairs with XRP as a short-term quote currency.
And rename the ETH markets in the ALTS market. Running out of space on the user interface.
– CZ Binance (@cz_binance) 24 December 2018
Ethereum markets renamed "ALTS"
He also announced that the company will rename the Ethereum market in the "ALTS" market, stating that the move was stimulated by the lack of space in the company's user interface.
He added: "We will give priority by adding more pairs to the projects they donated to our association (although (sic) we never talked about it during our fundraising efforts)."
Last month, XRP consolidated its place as the second most valuable cryptographic resource in the world, surpassing Ethereum. At the time of writing this article, the asset has a market capitalization of just under $ 17 billion.
The news that ZCoin and TRON are the only pairs available for XRP could have had positive effects on their values.
Binance, the largest crypt exchange in the world by daily trading volume, has expanded its symbolic offer this year, focusing in particular on the stablecoin. In early December, it launched a series of pairs, TrueUSD, a stablecoin quoted in USD, which served as a quote currency on the platform.
Shutterstock foreground image. Photograph by LinkedIn.
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