Binance Coin Soars As XRP Trading Pair Added
Binance, an international multi-language cryptocurrency exchange, has been in thick of cryptocurrency big news recently. On 28th June, Binance announced to enlist Theta [THETA] token on its platform. It acted as a catalyst and sent Theta prices zooming by a whopping 32 %. The trade volume of Binance increased with the trading of EOS/USDT and EOS/BNB enlisted on Skucoin [SKY] and Civic [CVC].
Binance announced today that it would open trading for XRP/BNB, TUSD/USDT, XLM/USDT and IOTA/USDT trading pairs at 2018/05/31 09:30 AM (UTC). Binance coin prices hit the roof again.
— Binance (@binance) May 31, 2018
The announcement fits perfectly with Binance's new strategy of being an all-inclusive cryptocurrency platform. The activity of adding new trading pairs has fuelled an unprecedented interest in Binance Coin, prompting the currency to skyrocket. The additions mark the pairings of, Ripple and Binance Coin (XRP and BNB), TrueUSD and Tether (TUSD and USDT), Stellar and Tether (XLM and USDT) and finally, IOTA and USDT (MIOTA and USDT). At the time of the announcement, Binance Coin is priced at $13.59, up by 8.27%. Stellar too appears to be getting on the price joyride from the pairing between itself and Tether.
XRP does not see any gain against its BNB pairing just yet. It was more on the expected lines. Market watchers did know it well. TrueUSD and Tether, being bound to the US Dollar are unable to garner meaningful profits, if they did, this would undoubtedly be a spoilsport.
With the inclusion of more trading pairs on the cryptocurrency exchange, it would become easier for crypto traders to exchange one currency against the another. It would also bring more people to the crypto exchange. Binance is also focussing on bringing in easy access to altcoins. It would give more trading options to people. Who does not want to be spoilt by choice? The more, the merrier.
Image via Binance Facebook Page
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