Since its launch in July 2017, Binance has gone on to become a giant among cryptocurrency exchanges. At press time, the exchange reports a 24-hour trade volume of nearly $1.15 billion according to TradingView. Currently, the platform offers trading through the following base currencies: Bitcoin (BTC), Ethereum (ETC), Tether (USDT), and its own native cryptocurrency, Binance Coin (BNB). Now, the XRP community is launching a grassroots campaign to get XRP added as a base currency.
On Thursday, Twitter user @C3_Nik took the community’s plea directly to Binance CEO, Changpeng Zhao:
We would like to see #XRP as one of the base assets on @Binance in order to move value much more quickly!
Please do it @cz_binance !
Let's get some retweets to let them know. 🙂#xrpcommunity #xrpthebase
@BankXRP @AlexCobb_ @haydentiff @XRPTrump @Hodor7777 @digitalassetbuy— C3|Nik (not investment advice) (@C3_Nik) August 9, 2018
Since then, the tweet has been retweeted more than 1200 times and has received over 1500 likes. In addition, the tweet has shown up on more than 160 different crypto-related websites, carrying the message even further.
Respone to the tweet has been overwhelmingly positive, with many users outlining a number of reasons why Binance should add XRP as a base currency:
- Cheaper and faster than other base currencies
- It would bring more users to the exchange
- FOMO
FOMO? Absolutely. While Binance has yet to add XRP as a base currency, other exchanges are beginning to see the light. Last month, India’s Unodax became the first crypto trading platform to include the token as a base currency. That same month, Singapore-based Bitrue launched with XRP as a base currency as well and – in an industry first – it was announced that San Francisco-based DCEX would be the first exchange to launch with XRP as its exclusive base currency.
Weiss Ratings Jumps on the XRP Bandwagon
It isn’t only the XRP community that thinks the addition of XRP would be a good move for Binance. Based on a Twitter poll in which 78% of the nearly 7600 respondents indicated that XRP was the best cryptocurrency for moving funds between exchanges, Weiss Ratings’ Juan Villaverde was convinced to give it a go and was hooked. He later thanked the community:
Juan Villaverde to XRP community: “Thanks, guys! You’ve convinced me. I now use XRP myself to move money between exchanges. No wait for confirmations. Really fast.” #XRParmy #XRPthestandard #XRP #crypto #cryptocurrency
— Weiss Crypto (@WeissCrypto) August 9, 2018
It goes further than that, however. Not only was Villaverde convinced of the merits of XRP for moving funds between exchanges, but Weiss Ratings also echoed the community’s sentiment that adding the token as a base currency on Binance was a no-brainer:
We think that the #XRP is the fastest digital asset to transfer funds between exchanges. It only makes sense for #Binance to use it as the base #currency – why should one have to go through an intermediary currency to trade? #crypto #btc #altcoins
— Weiss Crypto (@WeissCrypto) August 10, 2018
Currently, Binance has yet to respond to the community’s request, but with the XRP community growing daily and becoming increasingly vocal, how long will it be before Binance can no longer afford to ignore their request?
Do you think Binance should add XRP as a base currency? Let us know in the comments below.
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