A new XRP trading pair, the XRP/USDT pair, has now been listed on Australia's top crypto exchange, BTC Markets.
BTC Markets, Australia's first and biggest crypto exchange, has expanded its support for the sixth largest cryptocurrency, XRP, with the addition of a new USDT trading pair.
🔈 The XRP / USDT trading pair has arrived!!! Clients can now deposit, withdraw, & place post-only orders in the order book ahead of the market going fully live around 12pm tomorrow.— BTC Markets (@BTCMarkets) June 14, 2023
Place your orders today! https://t.co/UIMam63Eu6#xrp #usdt #trading #pair #crypto pic.twitter.com/NNmpdRkfDC
Launched in July 2013, BTC Markets provides a variety of AUD and BTC trading pairings with a geographic focus on Australia.
The new listing would broaden XRP's footprint on Australian markets and on the cryptocurrency exchange, which already offers the XRP/AUD and XRP/BTC pairs.
XRP appears to be one of the few, if not the first, cryptocurrency assets with a USDT pairing. This might be due to the dominance of XRP trading on BTC Markets, where XRP accounts for more than 50% of trade volumes.
The XRP/AUD pair accounts for a staggering 56.39% of trading volumes on BTC Markets, making it the most actively traded asset at the moment on the cryptocurrency exchange. In the last 24 hours, the XRP/AUD pair volume amounted to $3,176,044 worth.
With 29.10% of all volumes, or $1,638,903, the BTC/AUD trading pair saw almost half the volume of XRP, and it continues to be the second most traded asset after XRP.
Comparatively speaking, the volume of the XRP/BTC pair on BTC Markets was lower, making up only 0.01% of the overall volumes on the exchange.
XRP sees increasing social volume
On-chain analytics firm Santiment notes that XRP is seeing increasing social volume as traders shift focus from Bitcoin.
🗣️ With #Bitcoin's social volume finally declining ever so slightly after its March ascension, #Ethereum, #XRPNetwork, and #BinanceCoin are now getting increased discussion. #Altcoins continue recovering by varying degrees based on crowd confidence. https://t.co/JFGG5s76at pic.twitter.com/Vxwur2Qsds— Santiment (@santimentfeed) June 14, 2023
Yesterday was a momentous day for the XRP community following the reveal of the much-publicized documents of former SEC official William Hinman.
XRP briefly rose about 8% before retreating, and it is currently down 4.64% in the last 24 hours to $0.52.