Bitstamp, one of the biggest and oldest cryptocurrency exchanges in the world has finally opened its doors to the trading of ether. Ether is the cryptocurrency that powers the ethereum blockchain.
According to the firm, new trading pairs for ether will be launched next week. So, starting from August 17, members of Bitstamp will be able to trade ethereum for US Dollars, Euro and bitcoin.
Bitstamp also released a new pricing structure for its markets, which unifies the fees it assesses among its trading pairs. However, the firm says it will waive trading fees for those pairs until October 1 and will gift discounts to customers till the end of 2017.
The exchange added that it will soon start supporting other crypto currencies.
Created in 2011 in Europe, Bitstamp caters to a unique set of crypto investors and traders. It is arguably the third most voluminous cryptocurrency exchange in the world. In the last 24 hours, it has handled trades worth about $43 million.
Better late than never?
Bitstamp is one of the last major exchanges to embrace ether. This is despite the fact that it accommodates less significant cryptocurrencies like Ripple and Litcoin. Other exchanges like Coinbase and Bittfinex embraced the currency much earlier than Bitstamp.
But why is Bitstamp just embracing ether? You could say one of the reason is that ether is becoming stronger, more stable and popular, and Bitstamp wants a piece of the action.
Ether recently hit a new high of $300 and is up more than 300% in the last year. Who wouldn't want to get in on the action, eventually?
Another reason could be that the exchange's customers have been demanding for it to adopt ether and they finally obliged them. It could also be that they just developed the technology to be able to cater for ethereum trading.
But whatever reason it is, the adoption is a positive for ether and will most likely boost its price for the next couple of weeks.