Binance has added a brand new XRP buying and selling pair, XRP/TUSD.
World’s largest cryptocurrency trade Binance has added a brand new stablecoin buying and selling pair for XRP. In response to an announcement right this moment, Binance added the XRP/TUSD pair to its platform. The transfer will permit customers to commerce the sixth-largest cryptocurrency towards the fifth-biggest stablecoin.
The trade mentioned XRP/TUSD buying and selling would begin tomorrow by 08:00 (UTC). For context, XRP is now paired towards three stablecoins, together with USDT and BUSD.
XRP Soars Over 7%
Following the announcement, the value of XRP spiked by over 7% previously 24 hours. Coingecko information reveals that XRP is at the moment buying and selling at $0.489. At press time, XRP is the best-performing cryptocurrency among the many high 100 crypto property previously 24 hours, following the surge that accompanied Binance’s resolution so as to add a brand new stablecoin buying and selling pair for the coin.
– Commercial –
Binance famous that customers will get pleasure from zero maker charges buying and selling XRP/TUSD till additional discover. It’s noteworthy that Binance additionally added TUSD buying and selling pair for different high cryptocurrencies, together with Solana (SOL), Polygon (MATIC), Lido DAO (LDO), Optimism (OP), and SSV Community (SSV).
Binance Shifts Focus to TUSD Amid BUSD Regulatory Crackdown
Not too long ago, Binance has shifted its focus to TUSD following US regulators’ crackdown on its stablecoin, Binance USD (BUSD). Recall that on February 13, 2023, Paxos Belief Firm, the issuer of BUSD, introduced that it acquired a Wells Discover from the Securities and Trade Fee (SEC) alleging that the stablecoin operated as an unregistered safety.
A couple of hours later, the New York Division of Monetary Companies (NYDFS) ordered the corporate to halt the issuance of BUSD. The transfer triggered BUSD to lose its greenback peg, however BUSD rapidly regained its greenback peg and now trades at $1.
Nevertheless, Binance has determined to permit the crypto asset to chill off because it shifts its focus to TUSD, a stablecoin launched in April 2018.
Binance has given TUSD a much bigger position on its platform whereas persevering with to pair the cryptocurrency towards high crypto property, together with Bitcoin (BTC) and Ethereum (ETH). Final month, Binance minted a whopping $130 million value of TUSD. In consequence, TrueUSD rallied to develop into the fifth-largest stablecoin by market capitalization.
TrueUSD took to Twitter to announce the milestone, saying:
🥳🚀February speaks for #TUSD, what a month full of fantastic achievements:
— TrueUSD (@tusdio) February 28, 2023
Knowledge from Coingecko reveals that TUSD remains to be ranked because the fifth-largest stablecoin, with a market cap of $2.046 billion.
Binance Going through CFTC Lawsuit
Yesterday US Commodity Futures Buying and selling Fee (CFTC) charged Binance with a lawsuit indicting the crypto trade of illegally working a derivatives buying and selling platform that allowed customers to commerce crypto futures and choices.