Bitrue, a Singapore based exchange with close to fifty XRP trading pairs has announced the removal of transaction fee for Ripple’s XRP transfer above $100. While transaction fee for the digital currency is meagre, there is no doubt the move is one of the most welcomed by XRP community.
Bitrue has been one of the major exchanges with high number of XRP pairs. In fact, the Singapore-based exchange has 3 percent of the whole digital asset in circulation. The exchange has different incentives for XRP users.
— Bitrue (@BitrueOfficial) June 21, 2019
Towards the end of May, Bitrue organized a meetup for XRP community. At the meetup, the digital currency exchange announced it was intending to share its first month distribution of 1,000 XRP to the top 100 xrptipbot receivers. The decision is a means of thanking the community for supporting and using the exchange.
Recently, Bitrue introduced cryptocurrency purchase using credit card. Shortly after, it began what it called the offering of the lowest crypto purchase with credit card. With more opportunities for XRP users on the exchange, crypto enthusiasts are beginning to embrace Bitrue.
How Market Favours Ripple’s XRP this Week.
The cryptocurrency market is gaining strength at the moment with Bitcoin going higher and higher. This week unforgettable in the history of cryptocurrency.
Ripple invested a huge amount in MoneyGram in a remarkable deal that will make the latter use XRP/xRapid for settlement in over 150 countries of the world.
The other unforgettable incident is that of Facebook joining the cryptocurrency industry by unveiling a whitepaper for Facebook’s stable coin branded Libra, with a wallet designed for the native currency.
At first there was raging belief that Facebook’s digital currency will obliterate or at least annihilate other digital currencies.
However, the news and the theories fashioned to take down the crypto space entirely did not weigh more than a feather.
The assertions that regulatory authorities will only support Facebook’s GlobalCoin and ditch other digital currencies failed. Ripple’s XRP was the first to see the threat as nothing. On the eve of the launch of Facebook’s currency whitepaper, Ripple announced a partnership with MoneyGram, a move designed to cushion the possible effect of Libra on the market.
After the announcement, the whole cryptocurrency market was firm and even increasing in value to the extent that Bitcoin is now moving towards $11,000 in the market.
Of a truth, Facebook’s Libra coin is not a competitor to the likes of Ripple’s XRP and Bitcoin. This was confirmed in the statement of one of the co-creator of Libra, David Marcus, who dichotomised Bitcoin and Libra, stating that one is an investment asset, the other is designed to be stable for asset exchange.
Meanwhile, Ripple has seen over 3% price increase today. The digital currency is trading above $0.45 with a market cap of $18 billion at the time of writing. With Bitcoin leading the way for other digital asset, the crypto market appears smooth for currencies with justifiable use cases.