The stable coin
market for Bitcoin is expanding with new pairs created for TRX, LTC, BCHABC,
and BCHSV. These new stable coin pairs will begin
trading from January 24, 2019.
Chanpeng Zhao, CEO of Binance commented
that several people invested in the ICOs that had very simple white papers,
which in turn led to a decline in the price of cryptocurrencies. Zhao stated
that the sooner the massive rush is in over the price comes down.
The Binance CEO firmly believes that the
crypto will not go away. He thinks that
the current bear market is the longest in the history of Bitcoin. He further
stated that we are “overshooting on the lower side.” He further declared that his opinion might be
wrong considering the crypto to be a mass technology.
The current price fluctuation is a
distraction to the mind that focuses on the major goal. He focuses to be fully
prepared for the future.
Zhao is excited about the “Binance
Charity for Children Initiative” that is focused on providing lunch for African
children via the donations of Binance Coin (BNB).
According to Zhao, with 1 BNB it will be
possible to feed one child for a whole month in Africa.
Zhao when talking about the new stable
coin pairs stated that the symbol names would stay. Binance he stated will not support the idea
of changing the trading names at a later point in time.
Stablecoin market will have the following pairs:
The Binance opened its exchange to permit
trading of Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV). These trading pairs were live from January
22, 2019. They were:
exchange did not change the names or the coins.
These coins were the result of Bitcoin Cash Hard Fork that took place in
the past year.
Over the past few days, Binance as well
added a few more stable coin pairs for Waves (WAVES) and as well for Chainlink
- WAVES/USDT, WAVES/USDC,
WAVES/TUSD, and WAVES/PAX
- LINK/PAX, LINK/TUSD, LINK/USDC,
current move of Binance to support more trading pairs for TRON (TRX), Bitcoin
Cash ABC (BCHABC), and Litecoin (LTC) supports different trading pairs with
different stable coin base.
late there are overwhelming numbers of registrations happening. Of note, Binance became as popular today by
trades between cryptocurrencies. By adding increasing numbers of stable coin
pairs, they are set to grow more.