Ethereum and Ripple are officially added to the Japanese crypto exchange Coincheck’s over-the-counter trading desk. The latest cryptocurrency news today has more information about this amazing news.
According to reports, Ethereum and Ripple are the first two altcoins to be added on the new OTC trading desk.
Coincheck started operating its over-the-counter (OTC) service with Bitcoin (BTC) just when the month started and now offers Ethereum and Ripple one as the second and the other as the third largest cryptocurrency by market cap.
The Over-the-counter trading desks offer multiple specialized services for large-volume traders. This allows the traders to save money on fees and to avoid what would in other way be considered as hurdles during purchasing or selling major crypto investments through the old traditional methods.
The new feature became extremely popular among many crypto exchanges worldwide. Also, a blog post from Coincheck today shows that the exchange is considering adding other altcoins despite Ethereum and Ripple. The exchange stated that other altcoins will join the OTC trading desk but didn’t mention which ones will be prioritized.
The data on Ethereum and Ripple shows some interesting facts.
For example, on the Ethereum chain, analysts reported a 4% decrease in the number of DApp users compared to last year. Around 74,422 old users are still using the Ethereum-based DApps in 2019 – while decentralized exchanges (DEXs) are responsible for more than half of the ETH DApp transaction volume, followed by gambling applications.
Ripple went through a series of developments during this week. For example, the blockchain initiative by the European Commission stated Ripple is a crucial associate. Also, the Ripple Company made a partnership with the UK-based RationalFX in order to lend their RippleNet payment system. Finally, the Nordic Growth Market owned by the popular Boerse Stuttgart introduced an XRP tracking exchange-traded product for its investors.
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