Bitbox, the crypto exchange launched by Japan’s most popular messaging app, Line, has announced that it is delisting Ripple (XRP), the third crypto for market cap, as it does not meet the standards required by the platform itself.
According to the report, Bitbox preferred not to comment on the specific reasons for its choice, stating only that XRP does not meet the reliability, liquidity and performance requirements of the exchange.
Starting from midnight on January 16th, 2020, XRP and the XRP-BTC, XRP-ETH and XRP-USDT pairs will be removed from the platform, with the automatic cancellation of incomplete orders involving these crypto-pairs. Users will then be able to proceed with the withdrawal until February 16th, 2020.
This is completely unexpected news in the current crypto scenario. The Bitbox crypto-trading platform was launched in July 2018 by Line, the popular chat app in Japan, which has about 200 million active monthly users worldwide.
By contrast, the main crypto exchange Binance, on the same day, announced the launch of the XRP-USDT perpetual contract on its Binance Futures platform, featuring leverage of up to 75x.
— Binance (@binance) January 6, 2020
According to the announcement, Binance Futures has launched its third perpetual contract involving the third most capitalised crypto, Ripple (XRP), with Tether (USDT), offering users the possibility to select leverage from 1 to 75x.
Still a bit far away from the 125x margin of the BTC/USDT contracts launched on the futures platform last October, but nonetheless an incentive to trade with the On-Demand Liquidity crypto.
It seems that the Binance news isn’t the only positive for XRP, the market is also reacting accordingly. In fact, shortly after yesterday’s news from Changpeng Zhao’s exchange, the value of XRP seems to have skyrocketed with +10%, reaching the top of the rankings.
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— Binance (@binance) January 7, 2020
This could stir up the situation of the 2019 perennial red zone of the third cryptocurrency. Last year, in fact, despite the continuous news, XRP was not able to ride the bullish waves of the crypto market.