Cryptocurrency Exchange Bitrue Adds Five New XRP Trading Pairs

Siamak Masnavi

On Thursday (3 January 2019), cryptocurrency exchange Bitrue announced that it had added support for five new XRP trading pairs:

Bitrue, which was founded in 2018, has quickly become a favorite with members of the XRP community because of the enthusiasm and support shown by its management towards XRP. What is interesting about Bitrue is that it supported XRP as a base currency on the day that its trading platform was launched (19 July 2018).

Despite the bear market in 2018, Bitrue had impressive growth in trading volume, especially in Q4:

Bitrue's management is quick to acknowledge that the majority of its overall trading volume is due to XRP trading:

In fact, on 5 December 2018, Bitrue's daily XRP trading volume surpassed that of two much older and larger competitors:

Bitrue's increasing importance in the XRP space has not been ignored by Ripple:

As of today, this is the full list of XRP trading pairs offered by Bitrue: BCH/XRP; ETC/XRP; GTO/XRP; GUSD/XRP; KNC/XRP; LINK/XRP; LTC/XRP; PAX/XRP; QKC/XRP; TUSD/XRP; WAN/XRP; WTC/XRP; ZRX/XRP; XRP/BTC; XRP/USDT; XRP/ETH; XRP/TRX; XRP/XLM; XRP/NEO; XRP/GAS; and XRP/OMG.

There is further good news ahead for XRP HODLers since on December 27th Bitrue promised to add many more XRP trading pairs in the next couple of months:

 

Justin Sun Congratulates CZ on Binance Coin (BNB) Price Setting a New All-Time High

On Saturday (April 20), Justin Sun, the Founder and CEO of TRON Foundation congratulated Changpeng Zhao (aka "CZ"), the CEO of Binance, and the rest of the Binance team on the Binance Coin (BNB) price breaking its previous all-time high (ATH), which had been set in January 2018.

This was the tweet Justin sent out at 08:54 UTC on April 20:

CZ replied with this tweet:

According to CryptoCompare, at 07:05 (UTC), the BNB price reached the new ATH of $25.42, as can be seen in the 24-hour price chart shown below:

BNB - 24 Hour CC Chart - 20 Apr 2019.png

As CryptoGlobe reported on April 18, there have been quite a few catalysts behind the impressive rise in the price of BNB over the past three months, a few of which are listed below:

  • High successful initial exchange offerings since January 28 (BitTorrent, Fetch.AI, Celer Network) via Binance Launchpad.
  • Ever-expanding list of use cases for Binance Coin.
  • Regular quarterly BNB token burns (the 7th one was reported by Binance on April 16).
  • Successful mainnet launch of Binance Chain (on April 18), with the swap from ERC20 BNB tokens (on Ethereum) to BEP2 BNB tokens (on Binance Chain) expected to begin on April 23 at 00:00 (UTC).

With regard to future BNB price catalysts, since Binance seems to be betting its future on Binance Chain, the main ones are probably:

  • a successful token swap process (i.e. from ERC20 BNB to BEP2 BNB);
  • existing projects, such as decentralized social media platform Mithril, announcing their migration to Binance Chain; and
  • new projects deciding to adopt Binance Chain.

Finally, if you are a BNB token holder and you are worried about how to prepare for the mainnet token swap, the best advice comes from Binance:

 

Featured Image Courtesy of Binance