From September 5th, the Bittrex exchange will officially support USD trading pairs for both Cardano (ADA) and ZCash (ZEC), according to a press communiqué released today.
The move means that Bittrex USD markets now cover eight cryptocurrencies, complementing its existing offering for BTC, ETH, XRP, ETC for USDT.
Challenging Bitcoin Dominance
As Bitcoin dominance continues to hold sway – its total market value currently represents just over 52% of the total market capitalisation of all crypto assets according to adjusted figures from CoinMarketCap – the move by Bittrex will be positively received by markets which continue to be wracked by the whims of Bitcoin pricing volatility.
Bittrex has promised further trading pairs in the coming months as part of a larger market trend in which exchanges have themselves recognised the need – and demand – to accommodate new markets in order to help dampen the inherent volatility of crypto over the longer term.
In July, Coinbase announced that it too was studying a possible extension of its current markets to include Cardano, Stellar and BAT, among others, as part of its own initiative to accommodate institutional demand for crypto-based custodial services.