Binance, the world’s most popular cryptocurrency exchange, made a significant move on Monday, adding XRP as a base currency on its platform. The initial trading pairs available for XRP include TRON (TRX) and ZCoin (XZC), chosen for their support of Binance’s charity.
We would like to thank TRX and XZC for supporting #Binance charity efforts.
Enjoy the holidays! https://t.co/UurNGLPk5Q
— CZ Binance (@cz_binance) December 24, 2018
According to the announcement, Binance will add TRX/XRP and XZC/XRP trading pairs to the new Combined ALTS Trading Market (ALTS) today at 11:00 AM (UTC).
Binance notes that the original ETH market will be renamed as the ALTS Trading Market, which will allow it to support more trading pairs with a variety of quoted currencies.
This news comes as the XRP community continues to blast competing crypto exchange Coinbase for not adding the highest-valued altcoin to their platform. The move to add XRP as a base currency will likely be a popular move in the XRP community.
The move to consolidate altcoin markets into the Combined ALTS Trading Market is similar to when Binance expanded its Tether (USDT) market to USDⓈ, which now includes a number of popular stablecoins with an expanded assortment of trading pairs.
The news has had a positive impact on all three altcoins, with XRP now up 15.4%, Zcoin up 37% and TRON up 12%.
Photo: Marco Verch / Flickr
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.