Bittrex, one of the largest cryptocurrency exchanges, has announced the future addition of XRP and Ethereum Classic trading pairs against the US dollar. The move is part of the company's “phased approach” to building out dollar trading on its cryptocurrency platform. The changes will take effect on August 20, 2018.
The launch of XRP/USD and ETC/USD trading pairs on one of the largest exchanges will undoubtedly significantly affect the trading volume of these cryptocurrencies, as well as their price. It is also worth considering that the addition of trading pairs on Bittrex roughly coincides with the listing of Ethereum Classic on Coinbase, so August 20th could be a profitable day for ETC investors.
In an official statement, Bittrex said:
“We will continue to take a phased approach to trading the US dollar. We are taking our time, developing existing markets, carefully researching assets before opening them up to our clients. The good news is that you won't have to wait long for new opportunities. On August 20th, users will have access to exchange US dollars for BTC, ETH, USDT, TUSD, ETC and XRP
Today's announcement is another step towards further adoption of blockchain technology, which is truly revolutionary. Our marketplace will help limit the dominance and influence of one token over other blockchain projects - a change that is necessary if we truly want to provide consumers and entrepreneurs with the full benefits of the technology.”
ETC is currently the fourth most traded cryptocurrency on Bittrex, and XRP is the eighth. This fact proves that both digital currencies are already benefiting greatly thanks to Bittrex. By merging them with the US dollar on August 20, Bittrex will give its customers the ability to purchase XRP and ETC directly with the US dollar, rather than having to go through multiple exchanges.
According to https://cryptodaily.co.uk
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