Could Ripple (XRP) Be The Next Binance Base Currency?

The bear market of Cryptocurrency has seen billions being wiped off. However, XRP did the opposite and started increasing in demand and value. It even took over Ethereum and stood it’s ground to be the second-ranked Cryptocurrency in terms of market capitalisation.

No wonder, Binance’s CEO Changpeng Zhao, better known as CZ in Crypto world,  has finally responded to the positive headlines of Ripple and XRP. CZ asked the supporters of XRP to shill the coin as much as possible hinting that XRP may be next in line as a base currency on the popular Cryptocurrency exchange.



A shill is cryptocurrency slang for promoting a cryptocurrency in a variety of ways to create hype surrounding the coin. CZ has allowed the very vocal and supportive XRP community to do all they want and can by replying to the tweet with shills on XRP.

CZ included a link to an article on LinkedIn which gives all the details on how a coin can be listed on Binance.com.


Zerocrypted Opinion

 


As of now, three Cryptocurrency exchanges support XRP as a base currency. These include Coinfield, Bitrue and DCEX. If XRP is added to Binance, expect the value of XRP to increase tremendously given the number of transactions that occur on Binance.

There are a couple of reasons for Binance to consider XRP-

  • XRP is the fastest Cryptocurrency in terms of transfer speed.
  • XRP has a use case of cross-border transactions which has very high demands throughout the world.
  • XRP is seen to form partnerships with large financial institutions.
  • More users from the Ripple community will join Binance’s exchange.

Bitcoin’s volatility may encourage users of Binance to shift to XRP being their base currency given its steady rise, and it’s unbelievable transfer speeds.

Currently, Bitcoin’s base currencies include – BTC, ETH, BNB and USDT. 

XRP at the time of writing is happily sitting in the second position with a market capitalisation of $19,194,933,907 and a price of $0.476635. Ethereum, on the other hand, is losing market capitalisation at a rate and is currently at $16,033,908,292. The gap between XRP and Ethereum is getting bigger and bigger.

Image Source – Flickr

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