Binance Adds TRON (TRX) and Zcoin (XZC) Trading Against XRP Quote Currency
Binance just introduced XRP as a quote currency on its exchange platform, and has added TRON (TRX) and Zcoin (XZC) to its tradable pairs.
Zcoin surged over 40% leading into the Monday before Christmas. TRON’s gains were less pronounced for the previous twenty-four hour period, however TRX had already undergone a 74% spike over the previous seven days.
Binance Adds TRX/XRP & XCZ/XRP
As per Sunday night/Monday morning’s tweet from Binance founder and CEO, CZ:
“We will be adding a couple trading pairs with XRP as the quote currency shortly. And rename ETH markets to ALTS market. Running out of space on the UI. Merry Xmas!”
That was around an hour before the official announcement dropped, and the tweet immediately soared to a level of engagement unusual even for CZ and his 262K followers. Shortly afterwards Binance released this official announcement confirming the time and date:
“Fellow Binancians, Binance will add TRX/XRP and XZC/XRP trading pairs with XRP as the quote asset into the new Combined ALTS Trading Market (ALTS) at 2018/12/24 11:00 AM (UTC).”
Also noted in the announcement in the changing of Binance’s ETH markets to a general ALTS market. The existing pairs won’t change but all altcoin gateways will be confined to the one category. This also signals Binance’s apparent intention to open up more altcoin quote currencies in the future.
“The original ETH Trading Market (ETH) will be renamed into the ALTS Trading Market, to support more trading pairs with different quote currencies. Please note that ALTS does not represent a new coin or token. It is the symbol for Binance’s new Combined ALTS Trading Market.”
Give and You Shall Receive
CZ also noted on his personal twitter feed that those projects who donated to the Binance charity would receive priority status when it came to the listing of their coins. Per the CEO’s tweet:
“We will prioritize adding more pairs for the projects that have donated to our charity at this (even though we never mentioned this during our fundraising efforts). Happy holidays!”
This statement drew celebration from XRP and TRX fans, while others were less enthused with the prospect of a cryptocurrency exchange essentially having a paywall. One person who may share that view is DigiByte’s (DGB) founder, Jared Tate, who had a very public spat with CZ earlier this year and was told to cough up if he wanted to see DGB listed on the platform.
The new quote currency, XRP seemed to react well to the news, although technical analysis suggested XRP was primed for a breakout before the Binance news landed. The coin price surged 23% in the last day, adding to the 58% gains since December 15th.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.