The Singapore based cryptocurrency exchange will be listing XRP trading pairs for EOS, Polymath, NEM, and VeChain.
Bitrue, a digital assets exchange based out of the south-east Asian nation of Singapore will be adding XRP (XRP) trading pairs for EOS (EOS), Polymath (POLY), NEM (XEM) and VeChain (VET). With the latest additions, the number of XRP pairs will go up to 30.
The announcement which the firm made through its official Twitter handle earlier on Monday was reported by sludgefeed.com.
According to the twitter post, the exchange plans to add the new pairs by the end of January.
Currently, the firm has offices in the US, Canada, Japan, and Taiwan in addition to the base location in Singapore.
Bitrue’s Market Share
It is reported that Bitrue last December claimed in a sponsored post that it was handling 2% of the total XRP transaction volume. Back then the platform had only 16 trading pairs tied to XRP, and the firm was just about four months old.
Data from cryptocurrency aggregator CoinMarketCap confirms that Bitrue’s XRP trading pairs are clocking decent volumes. Chainlink (LINK) and Litecoin (LTC) lead the list with $2 million and $1.8 million in daily trading volume respectively.
The exchange currently sits at number 55 by adjusted daily trade volume on CoinMarketCap clocking around $19.48 Million.
Bitrue has XRP as a base currency in addition to BTC, ETH, and USDT. Contributing to the impressive XRP trading volume numbers, possibly, is the platform’s policy of paying 7.3% annual interest rate for XRP and stablecoins held on the exchange.
According to the article, users receive 2 XRP tokens per day for every 10,000 XRP held on the platform under the program at current rates.
Competition from Binance
Bitrue faces fierce competition from Binance, one of the leading and popular cryptocurrency exchanges in the world.
Binance recently added XRP as a base currency on its platform. The initial trading pairs introduced are TRON (TRX) and ZCoin (XZC), apparently chosen for their support of the firm’s charity program.
XRP is currently trading at $0.32 with a market capitalization of $13.54 Billion. The cryptocurrency is presently the second largest behind Bitcoin and ahead of Ethereum.
Would you like to see more exchanges introducing XRP as a base currency? Let us know in the comments below.
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