BKEX, a centralized cryptocurrency exchange established in 2018 and registered in the British Virgin Islands, has announced the listing of a new trading pair involving two of the XRPL ecosystem's tokens, xSPECTAR and XRP.
XRP serves as the quote currency in the XSPECTAR/XRP trading pair to be listed by BKEX. The price of a trading pair reflects how much it costs to buy one unit of the base currency with the quote currency.
The use of XRP as the quote currency in the pair might be due to the need to capture price differences better. Given XRP’s low transaction fees, market makers and traders can take advantage of arbitrage opportunities.
xSPECTAR is a Web3 company built on XRPL, with its own token, NFT collections and the upcoming metaverse.
In October last year, XRP Ledger Foundation updated its UNL with the addition of the xSPECTAR as a validator.
BKEX will list XSPECTAR/USDT on April 19 at 9:00 p.m. (UTC+8). Deposits for both trading pairs are already open, while withdrawals will be enabled on April 20 at 9:00 p.m. (UTC+8). Meanwhile, the trading open time of XSPECTAR/XRP is April 19, 10:00 p.m. (UTC+8).
In the APAC area, particularly in South Korea, XRP is growing in acceptance. Data from Kaiko, a cryptocurrency analytics company, reveals that since the year's beginning, the trade volume of XRP on the four biggest exchanges in South Korea has rapidly increased to an estimated $16 billion.
At the time of writing, XRP was up 1.79% in the last 24 hours at $0.519. xSPECTAR, on the other hand, trades for $0.09269, per CoinMarketCap data.