Hayes sure used a bad pun to motivate users to buy the Ripple token with USD through BitMEX.
BitMEX CEO Arthur Hayes spoke through his Twitter account with a derogatory comment against Ripple’s cryptocurrency, XRP, just before the platform enabled direct exchange between the digital currency and the US dollar (USD) as part of your business expansion plan.
Hayes compared XRP with “Dog Shit” based on the price of the coin being below USD $1, which would result in an excellent opportunity for those who want to buy it through BitMEX with USD.
However, the most outstanding aspect is that Hayes made the comment just in response to the Tweet published by BitMEX, in which the exchange team informed the good news to his followers, noting that he was “very proud” that the launch of this new XRP – USD trading pair would take place from February 5 (ie tomorrow).
Critics say that Hayes unfortunately did not choose the most appropriate words to communicate his message, since the intention was to motivate the users of the platform to seize the opportunity, and to buy a reputed cryptocurrency whose price is below USD $1.
XRP bull trend
After the stir that generated the comment made by Hayes through his Twitter account, the digital currency seems to experience a very good run in the main markets, since its price increased by more than 6.9% in the last 24 hours , being the most reputed currency to register such a steep rise.
Regarding the incorporation of this commercial pair, the BitMEX team clarified that margin trading operations (Margin Trading) will also be available, which offer a leverage of up to 50 times, and considering the digital currency for other types of operations with its derivatives, leaving the door open for future XRP.
With this decision BitMEX contrasts with Binance and OKEx, exchanges that handle XRP / USDT contracts. This seems to generate high expectations among traders interested in this type of operations, since the digital currency is currently trading at about USD $0.26 per unit.
Words of Hayes, BitMEX and consequences for XRP
However, many fear that what might seem like a very good run for the digital currency quickly turns around because of Hayes’ words, precisely because they could go out of context and play against Ripple’s good reputation among institutional investors
Generally, the words of influential people in the ecosystem usually make their effects felt on the market of the asset in question, so what Hayes said would remain as material for detractors and critics who do not welcome the XRP token, precisely because be directly associated with the banking ecosystem and go against the philosophical principles that support crypto economics according to the most orthodox.
At the moment, Hayes keeps in his account the controversial comment and to date he has not published any type of clarification to avoid misunderstandings. It is worth mentioning that the majority of the responses that follow their statements have taken it jokingly and highlight the fact that XRP was quoted for USD $ 3 during the first months of 2018.