Crypto Exchange Bitrue Launches XRP-Based Trading Pair for Cardano (ADA)

Siamak Masnavi

On Friday (April 5), Singapore-based cryptocurrency exchange Bitrue plesantly surprised the XRP community with the addition of yet another XRP-based trading pair: ADA/XRP. ADA's listing on Bitrue came with two other trading pairs: ADA/BTC and ADA/USDT.

Since Bitrue already had 36 XRP-based pairs prior to today's announcement, this means that it now offers a total of 37 XRP-based trading pairs.

Bitrue, which was founded in 2018, has quickly become a favorite with members of the XRP community because of the high degree of enthusiasm, support, and transparency 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).

2019 so far has been a great year for those members of the XRP community that use Bitrue since the exchange has been adding new XRP-based trading pairs at a rapid pace:

  • January 3rd: TRON TRX), Stellar (XLM), NEO, Gas (GAS), and OmiseGo (OMG).
  • January 4th: Bee Token (BEE).
  • January 11th: Holo (HOT), Pundi X (NPSX), district0x (DNT), and Propy (PRO).
  • January 18th: EOS, NEM (XEM), and Polymath (POLY).
  • January 28th: VeChain (VET).
  • March 15th: SHACoin (SHA).
  • March 24th: Dash (DASH), Basic Attention Token (BAT), and Storm (STORM).
  • March 27th: Zilliqa (ZIL), IOST, Golem (GNT), and ICON (ICX).
  • March 29th: Binance Coin (BNB).
  • April 5th: Cardano (ADA)

Here are all 37 XRP-based trading pairs:

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/USDT;  TRX/XRP; XLM/XRP; NEO/XRP; GAS/XRP; OMG/XRP; BEE/XRP; HOT/XRP; NPXS/XRP; DNT/XRP; PRO/XRP; EOS/XRP; NEM/XRP; POLY/XRP; VET/XRP; SHA/XRP; DASH/XRP; BAT/XRP; STORM/XRP; ZIL/XRP; IOST/XRP; GNT/XRP; ICX/XRP; BNB/XRP; and ADA/XRP.

Actually, the total number of trading pairs involving XRP is 40 since Bitrue also offers XRP/BTC, XRP/ETC, and XRP/USDT.

At the time of writing, according to XRP Charts, in the past 24-hour period, Bitrue handed 2.6% of Total XRP Trade Volume:

XRP Charts - 5 Apr 2019.PNG

Featured Image Courtesy of Bitrue

Binance Coin Could Face ‘Bloody Correction’ if Margin Trading Rollout Goes Awry, Analyst Claims

Josh Rager, a cryptocurrency trader and analyst popular on social media, has recently predicted that Binance Coin (BNB), the cryptocurrency of leading crypto exchange Binance, could face a ‘bloody correction’ if anything goes wrong with the rollout of its margin trading feature.

On microblogging platform Twitter the trader reminded his followers that all markets correct, and that a failure in the rollout of its margin trading options could be a trigger that sees traders dump BNB.

Data from CryptoCompare shows the BNB token has been having an incredible year so far. While in early January the cryptocurrency was trading at about $6, it has since surged to hit the $35 mark this month. In the last six months, cryptocurrency’s price has risen by over 500%.

This saw Binance Coin become the seventh largest cryptocurrency by market cap. Its price rose as the exchange has been seeing various positive developments, among them the launch of Binance Jersey, which lets users trade BTC and ETH for EUR and GBP, and the launch of a decentralized exchange that lets users trade directly from their wallets.

This month, the cryptocurrency surged to a new all-time high after it teased the rollout of margin trading, a feature seen as an important growth factor for crypto trading. So far, Binance stayed away from it, while exchanges like Kraken and Poloniex already offer it to its users.

Speaking to TechCrunch, a Binance representative reportedly confirmed that the exchange is going to launch margin trading “soon.” To Josh Rager, if “anything remotely goes wrong” with the launch, the price of Binance Coin will “dump like no other.”

It’s worth noting, however, that earlier this month Binance was hacked for over 7,000 BTC, then worth over $40 million. The crypto’s price was barely affected by the incident, even though it forced the exchange to temporarily shut down deposits and withdrawals. The market likely barely reacted as the company has a Secure Asset Fund for Users (SAFU) that covered the losses.

At press time, Binance Coin is trading at $33.3 after falling 4.9% in the last 24-hour period. Over the past 30 days, the cryptocurrency is up by 42%.