KuCoin, one of the most popular virtual currency exchanges in the market decided to add support to eight new XRP trading pairs to its platform. The information was released by the exchange on December 3rd.
XRP is the second largest virtual currency in the market and it has surpassed Ethereum (ETH) a few weeks ago. The new trading pairs are XRP/BTC, XRP/USDT, XRP/ETH, XRP/PAX, XRP/TUSD, XRP/USDC, XRP/KCS and XRP/NEO.
At the same time, the exchange decided to offer 99% discount on their trading fees on XRP trading pairs. This will last from December 3 to December 10. Another exchange that decided to cut its trading fees was Poloniex for its BTC/USDC trading pair.
This is very important for XRP because the community is asking since a very long time to have more trading pairs in different exchanges. XRP is one of the cheapest virtual currencies to be transacted in the market.
The XRP community has also been asking other exchanges such as Binance to start using XRP as a base currency for its platform. However, the decision was not yet taken. Nevertheless, Changpeng Zhao, founder of the Binance exchange, asked on Twitter to shill XRP under a post he wrote.
The xrp base shill is strong. Let’s get it out of your system, and put all your shills under this one tweet, and let’s see how much we get. https://t.co/usiISCtuSj
— CZ Binance (@cz_binance) November 18, 2018
Although this is very positive for XRP’s development and adoption, the virtual currency has performed poorly in the last months. This is also a consequence of the current bear market that has affected the whole virtual currency market. Although it is true that XRP lost part of its price, it was able to acquire the second position in the market and remain there until now.
Currently, XRP was traded close to $0.349 and it has a market capitalization of $14.1 billion. Additionally, it has around $3 billion’s dollar difference with Ethereum, the third largest crypto after Bitcoin (BTC) and XRP.
In the last 24 hours, KuCoin handled $7.94 million dollars in trading volume. The most traded pairs at the exchange were BTC/USDT, DACC/ETH and ETH/BTC.