Binance US cryptocurrency exchange has announced the inclusion of Dash on the platform, including US dollar fiat trading pairs.
https://t.co/AZwoBOy3iq Will List @Dashpay ( $DASH ) https://t.co/AJcRJNRId2 pic.twitter.com/ZBS18O9Pve
— Binance.US (@BinanceAmerica) October 15, 2019
Announced this week, Binance US, the United States arm of top cryptocurrency exchange Binance, announced the listing of Dash on the platform. Notably, the exchange has added Dash/USD trading pairs, meaning that customers can immediately purchase Dash directly with fiat currency rather than having to first purchase a different cryptocurrency such as Bitcoin:
“For ACH USD Deposits, you will be able to buy and sell digital assets from your USD wallet immediately, but deposited funds are placed under an initial hold of 10 days before you can take them out of Binance.US. USD Wires do not have this hold period.”
Dash was previously supported on Binance, the international version of the exchange, and questions remained if the US version of the exchange, with its separate regulatory challenges, would list the cryptocurrency.
Dash’s continuing progress in major exchange listings
In recent months, Dash has made considerable progress in being included on most major exchanges. This month, Dash was added to top exchange BitMart as well as InstantSend support activated on Bibox. Last month, both Coinbase Pro and Coinbase added Dash, representing a key endorsement from a top and respected industry player.
We let you choose your own adventure into these crypto markets, offering $BTC and $DASH (soon) and many others.
Unsure which is for you? Free trading until Nov 1st @BinanceAmerica!
We believe in educating, not intimidating.
But please remember to #DoYourDigitalHomework.
— Binance.US (@BinanceAmerica) October 15, 2019
In particular, Coinbase added Dash while requiring only two confirmations before recognizing deposits. This represents an implicit endorsement of its security model with ChainLocks anti-51% attack protection, recognizing deposits far faster than those from Bitcoin. The resulting endorsement may have compounded educational efforts to counter announced delistings of Dash, most notably by OKEx Korea, which recently announced a pause to its planned delisting of Dash pending further research.
Dash, and the industry as a whole, are growing out of Bitcoin’s shadow
The addition of more fiat currency trading pairs for Dash from Binance US constitutes a growing trend of Dash reducing its dependence on industry leader Bitcoin. Much market liquidity, particularly in the early days of cryptocurrency, flowed into Bitcoin first, and other currencies later. The growth of markets for specific top cryptocurrencies first, rather than first through the Bitcoin trading pairs, facilitates the growth and development of the ecosystem to full maturity past a single network choke point.
A new study from Indexica indicates that this trend exists on an industry-wide scale, with the price influence of Bitcoin having a decreasing effect on the rest of the market as the industry grows and matures.
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