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Changpeng Zhao (CZ), CEO of Binance, has just confirmed the long-awaited rumor, of Binance adding XRP as a base pair. He announced the news on Twitter on 23rd December. XRP markets have reacted positively with XRP rising by 15%.
Binance will begin with adding two currencies as XRP base pair. And as time progresses more and more will be added. A base pair increases the value of a cryptocurrency as more cryptocurrencies are tied to it. CZ has announced that projects that took part in the fundraiser will be given a priority.
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!
— CZ Binance (@cz_binance) December 24, 2018
Tron (TRX) and ZCoin (XZC) the first base pairs for XRP
The first XRP base pairs to be added on Binance are Tron (TRX) and ZCoin (XZC). The Tron foundation has already donated over $10 Million to Binance Charity hence it is natural that TRX was added first.
Binance will be adding the new pairs to the Combined ALTS Trading Market (ALTS) 11:00 AM (UTC) on 24th December.
Binance Tweeted:
#Binance Adds TRX/XRP and XZC/XRP Trading Pairshttps://t.co/8WZ26XxmZR pic.twitter.com/rtXwR4PbWa
— Binance (@binance) December 24, 2018
A win for XRP Hodlers
XRP investors and evangelist took to Twitter and promoted the hashtag #XRPthebase. Their argument was that using XRP as the base, the markets could be removed from the dependence on the price of Bitcoin. And XRP’s speed makes it one of the best contender for a base pair.
Binance to add more base pairs?
In a blow to Ethereum, Ethereum markets will be now be renamed as “Alt-markets” on Binance. According to CZ, Binance is running out of UI space to include separate markets due to the addition of XRP markets.
Alt-Markets will include Ethereum and XRP base pairs, the Malta Based Exchange also plans to include other base pairs eventually.