— Bittrex (@BittrexExchange) 8 August 2018
Industry leading cryptocurrency exchange, Bittrex, have announced that as of the 20th of August 2018, they will be listing the exchange of XRP and Ethereum Classic against the US Dollar. This is a part of the exchanges ‘phased approach’ towards complete USD trading on the platform, opening a door for a new surge towards cryptocurrency adoption within Bittrex.
Indeed, as one of the largest cryptocurrency exchanges, opening up trading for XRP/USD and ETC/USD will have a big impact on the trading volume of the currencies, which in turn should also allow for a spike in the value of the currencies. We should consider that this is likely to happen at around the same time as Ethereum Classic going live on Coinbase, so actually, the 20th of August could be a very big day for ETC investors indeed.
According to the official Bittrex announcement:
“We will continue to use a phased approach for USD trading. We are taking our time and ramping up these markets, processes and systems through a measured approach before we open it up to all qualified customers. But, the good news is that you didn’t have to wait a long time for more opportunities. As of August 20, participants will have access to USD markets for BTC, ETH, USDT, TUSD, ETC and XRP.”
“Today’s announcement is another exciting step toward further adoption of blockchain technology, which is truly revolutionary. In addition to broader acceptance, expanding fiat markets to the top digital currencies on our trading platform will help limit the dominance and influence of any one token over other blockchain projects – a necessary evolution if we’re going to unleash blockchain’s potential benefits for consumers and businesses.”
See more for yourself, here.
As it stands, ETC is the 4th most traded cryptocurrency on Bittrex and XRP is the 8th most, proving that both of these cryptocurrencies already benefit greatly from the Bittrex exchange. By pairing them up with the US Dollar, Bittrex is giving both XRP and ETC investors a new use value for their currencies and will also open the door to further investment on the premise that to access XRP and ETC after the 20th of August on Bittrex, users will only need to exchange their dollars and not have to jump through various different exchanges to reach their end goals, reducing fees, and reducing time.