The cryptocurrency community has relied on partnerships and tie-ups within the fraternity to expand the reach of the entire industry. The latest organization to take another step in the listing department was Bitrue, which has decided to add 27 new XRP pairs on its platform by the first week of January.
The first couple of pairs will be added on December 23 while the next set will be included on January 9. Bitrue’s official blog stated:
“The first of the new coins to be paired up will open for deposits and withdrawals starting on December 23rd, with trading going live on December 25th. The remainder of the coins will open for deposits and withdrawals starting on January 9th, with trading going live on January 13th.”
The December 23 batch will include XRP pairings with ARPA, AST, BLZ, DOCK, EVX. MANA, QSP, RCN, RDN, REN, REQ, STORJ, TNT and WPR. The next set of pairings comprised of AAC, ABT, EGT, FAIR, ITC, KAN, KCASH, LET, PAY, SOC, SWFTC, TOPC and TRIO. The pairs created with XRP is set to improve the cross border transactions department by opening up multiple avenues for users to trade.
The announcement did not have much of an impact on XRP’s price as the third-ranked cryptocurrency was holding a value of $0.19. The market cap clocked at $8.49 billion while the daily market volume had been reduced to $1.34 billion. Despite the latest announcement, XRP has been criticized by some members of the cryptocurrency community with Tone Vays, a popular analyst criticizing Ripple and XRO for sucking the value out of the crypto industry. Vays added:
“The Ripple token now – more or less – act as a security of the Ripple corporation. It was launched illegally; it was launched without compliance. And I think the people who created it should be held accountable.”
XRP was further scrutinized by naysayers who claimed that despite having “no use cases”, Ripple had raised $200 million in its latest Series C funding round. The Series C was led by Tetragon with the involvement of conglomerates such as SBI Holdings and Route 66 Ventures. Brad Garlinghouse, the chief executive of Ripple affirmed that at the moment, the organization was in a strong financial position to execute their vision.