Cryptocurrency market has led significant coins to compete with the bear in order to be stable in their places. Bitcoin SV(BSV), which was the weakest coin lost its position from the list of to 10 cryptos on CoinMarketCap to BNB (Binance Coin) on the 6th of February. With this coming along, Binance has managed to add another point to itself. Changpeng Zhao, CEO of Binance commented on it by saying ‘Many thanks to @CoinMarketCap for updating the $BNB circulating supply. Doing ranking is much much harder than people imagine. Keep up the good work!’
A live question and answer session was hosted by CZ where a lot of questions were answered. Binance’s CEO stated that Binance would ‘definitely’ join hands with Ripple with the intention of boosting its XRP-powered solution xRapid. The CEO cleared that this step is in the pipeline and is for the distant future. The two companies are yet to work out the details of the project. The company is focussed on launching BinanceDEX and Binance Chain.
The CEO stated that ‘We’re focused on launching more features right now, so we are working with a number of other partners. With xRapid, there’s nothing going on right now, but in the future, we’ll definitely want to add them as a partner.’ In response to the addition of more XRP quote pairs, CZ said ‘We already added XRP as a base currency. So, in the future, we will look to add more quote pairs, but we want to make sure that every pair we add has decent liquidity.’
In order to accelerate xRapis’d liquidity, Ripple joined hands with different crypto exchanges like Coin ph, Bitso, Bittrex and Bitstamp. Such changes enable financial institutions to convert local currency into XRP while enabling you to send digital assets to countries allowing immediate conversion to fiat.
On being questioned about Bitcoin ETF, CZ said that if it manages to list on traditional exchanges, Bitcoin ETF will get in attention from ‘people outside our industry’. CZ further went on to say that ‘I don’t think ETFs are core to our industry’s growth. With or without them, our industry will grow. I think for our industry to grow we need more entrepreneurs to build real projects.’