Getting cryptocurrencies listed on more exchange will vastly improve their liquidity. In the case of Ripple’s XRP, most of the interest originates from Asia. Given Ripple’s partnerships in that part of the world, this is anything but surprising. With Chinese exchange ZB.com adding this digital asset, things are looking pretty exciting. This news comes as quite a surprise, considering this exchange only launched three weeks ago.
It is always good to see new cryptocurrency exchanges come to market. In China, things are not as black-and-white as most people would think. More specifically, CNY trading isn’t allowed, but other trading markets are still fine. In the case of ZB‘s addition of XRO, the asset can be traded against Bitcoin and USDT. There is no Ethereum trading market for this asset right now, which is a bit surprising. It seems ZB wants to attract more users by adding one of the top currencies on the market.
More XRP Liquidity in China
Considering how ZB launched on November 1st, the company has everything to prove. It is always difficult to trust new exchanges when they pop up out of the blue. How things will play out for this platform, is anybody’s guess right now. Their addition to USDT and now XRP is pretty significant, though. It seems to confirm the team knows what they are doing and which currencies are in high demand. Transactions for XRP will go live later today, with both BTC and USDT markets opening at 12:00 Beijing Time.
Considering Ripple’s asset had a good year so far, this new exchange may positively affect the XRP price. It is still too early to tell if that will be the case, though. After all, the value of this asset exploded throughout 2017. There is only so much growth one can or should expect within twelve months. Having more exchange son board can only be considered to be a good thing, though. The company is a partner of CHBTC, which was one of China’s largest exchanges until the CNY ban.
One thing working in the company’s favor is their vast user base. More specifically, ZB.com already has over 500,000 registered users to date. That is a pretty decent amount for a platform that is just three weeks old.An interesting future lies ahead for this company and their XRP trading market, that much is certain. Moreover, all platform fees are distributed to users in the form of dividends. This will also apply to fees generated by the new XRP trading markets.
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