Binance to rename ETH market to ALTS market; add XRP trading pairs
The world’s biggest cryptocurrency exchange Binance is looking to expand their offerings this Christmas season, with a slew of major changes, as announced via a tweet from the exchange’s CEO Chanpeng Zhao, popularly referred to as CZ on December 24.
CZ announced that the San-Francisco based networking giant Ripple’s native cryptocurrency XRP, currently to top altcoin on the crypto-market will be the quote currency to many new additional trading pairs, that the exchange has yet to announced.
In the same tweet, the Binance CEO announced that the ETH market, market for the second most prominent altcoin, Ethereum [ETH] would be renamed ALTS markets, to denote the altcoins in the market. He further added that the same has been done because the exchange has been, “Running out of space on the UI [User Interface].”
Changpeng Zhao further stated that the projects that have donated to the Binance charity event will be prioritized in adding the aforementioned pairs. CZ acknowledged that the same was not intimated to the patrons during the fund-raising process.
Binance, earlier in October, launched their Blockchain Charity Foundation (BCF) a donation portal that his based on blockchain technology at the UNCTAD World Investment Forum. Furthering the universally accepted U.N. Sustainable Development Goals (SDGs), Binance’s BCF also aims to build transparency in charitable organizations.
At the launch, CZ said, “Donors don’t have the visibility as to where their funds are going, and most donations do not reach their intended beneficiaries. This lack of transparency causes a lack of trust, further reducing the willingness for people to donate to charity funds in general.
Other top proponents of the cryptocurrency realm have also supported Binance’s efforts in this charitable endeavour. Representatives from Tron, IBM, Hyperledger, ConsenSys were present at the launch forum to discuss the dichotomy of blockchain technology and the SDGs.
Justin Sun, the founder of TRON announced that both TRON and Binance have committed to donating $100,000 in cryptocurrency to the Malta Community Chest Fund through Binance’s BCF platform.
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