Bittrex, one of the leading cryptocurrency exchange platform recently announced on Twitter that they have successfully launched the USD markets for Tron [TRX] and Litecoin [LTC]. Last week, the exchange platform made the announcement of listing the coins on their platform.
Bitterx’s announcement on Twitter:
“Launch Update: TRON (TRX) and Litecoin (LTC) have been added to USD (Fiat) markets. Eligible
#Bittrex accounts created before September 4 are enabled for trading.”
The listing of Tron on the exchange platform marks as the first USD market for TRX in the United States. To this, Justin Sun, the CEO and Founder of Tron Foundation said:
#TRX already can be traded on @BittrexExchange, $USD markets, $USD/ $TRX. First #TRX fiat trading pair in US. Go #TRON. Go #TRONICS. #TRON to the future.”
The main aim of launching USD markets was in order to eliminate the dominance and influence of one cryptocurrency over the rest of the market. In addition, the exchange platform also considers this as a step forward for the adoption of blockchain technology.
Currently, Bittrex has an overall of 10 cryptocurrencies with USD pairs available for trading on their platform. This includes Bitcoin [BTC], Ethereum [ETH], Cardano [ADA], XRP, Tether [USDT], TrueUSD [TUSD], Ethereum Classic [ETC], ZCash [ZEC], Litecoin [LTC] and Tron [TRX].
The platform, at first, opened USD markets for XRP and Ethereum Classic. Succeeding which, the exchange platform launched USD pairs for Cardano [ADA] and ZCash.
During the initial announcement of the launch of USD markets, the exchange platform said that the pairs will be available for customers using their corporate and personal accounts. However, this service is available for customers only from California, Washington State, Montana and international customers who are qualified to participate in the market.
Moreover, customers are required to fill out a form and get approved by the exchange platform to start availing the service. The customers are also given two options to participate in the USD markets. This includes ‘USD trading only’ and ‘USD trading, deposits, and withdrawals’.
By opting for the USD trading only service, customers will have access to only trade in the USD market along with their respective coins on the platform. Whereas, by opting for the USD trading, deposit and withdrawals service, customers will have access to all the trading services in the USD market for their respective coins. If a user wishes to convert from ‘Trade Only Service’ to ‘USD Trading, Deposit and Withdrawal’ service, they can do so by submitting a fiat trading form to the platform.
According to CoinMarketCap, at press time, Tron [TRX] was trading at $0.018 with a market cap of $1.22 billion and plunged by more than 6% in the past 24 hours in the market.
Litecoin [LTC] was trading at $51 with a market cap of $3.02 billion and has plunged by more than 9% in the past 24 hours in the market.
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