Binance Exchange Sees High Trading Volumes Of Ripple And Tron (XRP/TRX) From Crypto Investors
XRP Continues To Shine
With the increased popularity of blockchain technology, several platforms have emerged to assist investors on how to go about trading these cryptocurrencies. One of the most popular trading platforms is Binance. In the recent trading activity, TRX/XRP pair posted a tremendous gain in terms of trading volumes and prices. Investors who had taken positions in TRX were smiling all their way to the bank.
TRX made a gain of fifteen percent with its prices increasing from $0.0266 to $0.030 in one day. That is not all. More investors were interested in the digital coin, and the daily trading volumes doubled to a value of almost seven million dollars. Although this currency was trading on the various platforms, Binance and another famous exchange by the name of Upbit handled close to thirty percent of all the coins traded.
Another crypto asset which performed well is TX. On Wednesday, it gained close to fifty percent and its trading volume increased by more than five hundred percent. Thus, the two crypto assets form a good pair for any trader who wants to make a short-term gain.
In fact, in the past week, they have outperformed other digital coins to become one of the best trading pairs. Perhaps this is an indication that investors have increased confidence in XRP which they view as safe and reliable.
Binance Making Changes
Binance has maintained its position as one of the leading exchanges or cryptocurrencies in terms of trading volumes. Popular coins such as the Bitcoin, Binance Coin, and Ethereum have prominently featured on its platform. However, in the recent past, the exchange has made some adjustments. Ethereum has been moved to the alternative markets. Now the base trading pairs will include Ethereum and XRP.
Trust in XRP
The excellent performance of XRP has caught the eyes of Binance. As such, base pair also includes XRP. This serves to increase traders’ confidence in the crypto asset. It also marks a significant shift in the platform. Previously, ETH dominated the altcoin markets. With the entry of XRP, the market for ETH is expected to reduce significantly.