JAKARTA - BinanceUS, the partner crypto platform of the world's largest crypto exchange, Binance, has announced its expanded support for XRP and ARB. Through the Conversion feature, users can easily and directly convert their own crypto assets to other crypto assets or USD without trading fees.
"We've added a new Convert pair for $ARB and $XRP," BinanceUS team said in a recent tweet.
With the #BinanceUS Conversion feature, you can directly convert one cryptocurrency into another cryptocurrency in just a few taps. No trading fees and no surprises. Get what you agree with. The best of all, we have added a new conversion partner for ARB and XRP! " wrote Binance.US announcement via its official Twitter account @BinanceUS, July 28, 2023.
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This announcement came after BinanceUS previously re-registered XRP on its platform two weeks ago. Initially, BinanceUS removed XRP after the SEC (Securities and Exchange Commission) classified it as unregistered securities in December 2020. However, after Judge Torres declared XRP as non-security, BinanceUS and other exchanges returned to trading the coin.
XRP's market activity has seen a significant increase since the start of the year, with global trading volume reaching more than 117 billion US dollars (Rp1.7 quadrillion) in 2023 alone. This reflects an increasing interest in the coin.
Interestingly, known as the XRP influencer, Lewis Jackson, reports that about 3.2 million XRP accounts have been created as of July 25, 2023, with an average of 1,166 new accounts being created every day. The total XRP accounts currently reach 4.72 million, and out of a total of 100 billion XRP, 58.27 billion circulated, while 41.7 billion coins were in Ripple's Escow account. In addition, about 11.46 million XRP accounts have been burned to date.
XRP's support and recovery on BinanceUS is a positive signal for the growth and acceptance of these coins in the crypto ecosystem. With the conversion feature that makes it easier for users to manage crypto assets, it is hoped that BinanceUS can continue to contribute to increasing adoption and convenience in crypto trading for users.
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