Binance adds new trading pairs – Stellar Lumens [XLM] trading with Tether [USDT]

Binance is one of the largest international and multi-language ecosystem in the blockchain technology. It consists of a launchpad, an exchange, and info labs. The exchange platform has recently announced the new trading pairs on their platform.

Binance will be offering and will be open for trading the pairs – XRP/BNB, TUSD/USDT, IOTA/USDT, and XLM/USDT on 31st May 2018.

The community of Stellar Lumens is excited about this news. Stellar Lumens is currently ranked 8th on the cryptocurrency market globally. XLM is trading at the price of $0.291 with a market cap value of $5.42 billion at the time of writing.

Stellar Lumens' 1-day chart | Source: CoinMarketCap

Stellar Lumens’ 1-day chart | Source: CoinMarketCap

It has a supply of 56.77 million with a volume of over $301 million. The coin has increased by 0.01% in the past hour and decreased by 1.44% in the past 24 hours. It had a downfall of 0.02% in the past week as per CoinMarketCap. It had a high of $0.295 and a low of $0.271 on 30st May.

Stellar Lumens [XLM] shared this with the community via Twitter:

“It works! XLM recognised as deserving cryptocurrency to pair with @Tether_to
XLM is up 3% today. Thanks for the RETWEETS ladies & gentlemen! (Not begging anymore)”

b1tcc, a Reddit user commented:

“Even more than offering more pairs (like fiat and stable coins), to decouple Bitcoin from Stellar the mind of the traders needs to want it so it’s a game of education above all.”

OnlyChaseCommas replied:

“Can someone explain what this means exactly? Why would I trade against the dollar? I know ETH and BTC fluctuate but how does that affect USDT? I’m kinda drawing a blank for an explanation. Thank you!”

roro­_here commented:

“Wow, that’s wonderful news!! Great to see us finally getting decoupled from BTC. But will it mean more swings either way as traders move between tether and XLM based on the direction of price swing?”

The post Binance adds new trading pairs – Stellar Lumens [XLM] trading with Tether [USDT] appeared first on AMBCrypto.