Ripple News and Price Overview: Exchange To Use Ripple XRP As Base Currency. Tuesday, July 31
Important Ripple News
Exchange Uses Ripple XRP As Base Currency
A new decentralized exchange DCEX, a San Francisco based firm has announced that it will commence registration for users although it added that trading will not commence on the platform for another couple of weeks. The company is a subsidiary of the cryptocurrency services company Alphapoint which confirmed so through a release on Monday.
The exchange according to a blog post on its website also stated that Ripple XRP shall be used as the base currency on its platform making it the very first exchange that uses the third most capitalized coin to dominate its trading pairs.
The post by AlphaPoint CEO Salil Donde said that the exchange will be anle to offer 15 digital currencies as trading pairs at this time. These will include XRP, bitcoin, litecoin, ethereum, ethereum classic, vechain, zcash, and stable-coin TrueUSD. However, the post stated that DCEX will add neo and ADA, among other coins in the coming months. DCEX also offers access to all 10 coins listed in the Bloomberg Galaxy Crypto Index, which include monero, EOS and dash.
Donde said that the choice of Ripple XRP will enable DCEX to move funds rapidly with low transaction cost. This is because the XRP platform is designed for low fees and high speed transaction and the company thinks that this will give it a leverage over many existing exchanges which have been known to charge fees that discourage some users, factoring in the cost of transaction on the networks, these fees could add up to substantial amount.
Ripple (XRP) Stabilizes Around $0.44
Ripple, the coin has had a lot of challenges this year, mainly owing to its relationship with Ripple, the company. This has resulted in the drop in value of the coin to $0.5 with the expectations that the coin will continue downwards. However, indications show that XRP has stabilized between $0.44 and $0.45.
XRP/USD Price Chart, Tuesday July 31st:
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