Whether you are new to the cryptocurrency industry or you have been in it for years, there is no denying that exciting things are always happening. Heck, so many changes occur on a daily basis that it can be hard to keep up with them.
This is why it is always important to make sure that you are following the right news sources that will deliver the information that you need when you need it. Of course, you have to take into account that you know what information you are looking for. All that aside, one of the biggest and most exciting things that recently happened was Binance adding XRP to its futures trading platform.
What Is Binance?
For those of you who are not familiar with Binance, you need to understand that it is currently the second leading and largest cryptocurrency exchange. In fact, it has been reported that the exchange trades anywhere from $5 to $6 billion in assets on an average period of seven days.
This is truly a remarkable amount of money when you sit down and look at it. This exchange hasn’t really been around that long and this is probably why many people haven’t heard of it. However, this certainly didn’t stop its rise. It quickly rose to the top of the market, and it might even be making more waves by adding XRP to its current offerings.
Even with the current downtown in the market, users are continuing to sign up and take advantage of the lucrative offerings. Another thing that should be noted is that Binance is also the name of a popular currency that is exchanged on the market. This is somewhat similar to that of Ripple XRP.
A Faster Matching Engine
If you are like most individuals you have probably already seen that Ripple price prediction is steady. This is also probably why you are not that surprised to see Ripple get involved with another exchange. What you are probably asking is, why could this exchange be the turning point of the currency?
In order to understand the answer to this question, you need to know how matching works. When you go to an exchange and buy or sell your currency it is not the exchange that buys or sells your currency. No, your currency is being bought or sold to another provider. It is the exchange that acts as a middleman. Of course, they will collect a fee from both the seller and buyer, which is where they make their money.
This is where Binance could be different. They have an innovative matching engine that is capable of handling nearly 1.4 million trades per second. This is currently one of the fastest markets available.
A Versatile Liquidity
It is not just the matching engine that makes Binance superior. They also offer high liquidity in many different assets. You can trade everything from Bitcoin to altcoin. There are also several Asian coins available that can’t even be found on most Western-based exchanges. This is just another one of the many reasons for the exchange’s rapid and decisive rise to the top.
