Amidst the downward trend in the crypto market, a few of the cryptocurrencies are registering the gains either in anticipation or finally getting listed on big exchanges.
Binance to list TUSD on May 18
Currently, the entire market is swimming in deep red with Bitcoin (BTC) down by 5.13 percent, Ethereum (ETH) 4.85 percent, and Ripple (XRP) 7.13 percent. Some cryptocurrencies are losing in double digits going down as far as 20 percent.
Despite the ongoing Consensus event, the crypto market is experiencing a big hit and continuing onto its bearish trend.
However, a few of the cryptocurrencies are seeing the flecks of green in elation of getting listed on major cryptocurrency exchanges.
First, we are going to talk about the upcoming listing of TrueUSD (TUSD) on Binance. One of the world’s top crypto exchanges, Binance will list TUSD on May 18, 2018. TUSD/BNB, TUSD/BTC, and TUSD/ETH will be the trading pairs made available, though “users can now start depositing TUSD in preparation for trading.”
TrueUSD is a stable cryptocurrency that is claimed to be 100 percent legally backed by the value of USD which means each TUSD is redeemable for $1 USD.
In anticipation of getting listed on such a huge exchange, TUSD is already registering gains of 3.82 percent and at the time of writing it is sitting at $1.04.
Bithumb lists LRC, WAX, PAY, GTO, and POWR
A few other cryptocurrencies that are in the green as well are TenX (PAY) and Loopring (LRC) which have been listed on Bithumb.
Bithumb is the sixth largest cryptocurrency exchange in the world by trade volume as per the Coinmarketcap. Today, the exchange announced that it is listing five new coins viz. Loopring (LRC), WAX (WAX), TenX (PAY), Gifto (GTO), and Power Ledger (POWR),
Out of the five of these coins, TenX is currently at $1.50 while rising at a fast rate of 18.64 percent despite the bullish trend in the market. Loopring is also registering gains but at a much slower pace which is at $0.66 while taking a surge of 0.65 percent.
Whereas, other coins i.e. Power Ledger and Wax are currently at $0.46 and $0.28 with a loss of 5.25 percent and 5.8 percent respectively. However, Gifto is at $0.35 USD with a loss of 3.95 percent but is gaining in BTC and ETH trading pairs by 1.53 percent and 0.99 percent respectively.
Exchange listings, especially major ones like Binance have a history of spiking the prices of the cryptocurrencies. However, Bithumb listings have esulted in way more dramatic surges in the prices.
With the market currently riding the red wave, it is quite expected of the prices to not reach as high as they would in a green market.
What are your views on these crypto market rising with the listings? Share your thoughts with us!