Bitrue Highlights 8-Year Partnership with Cardano Amid XRP Dominance

Bitrue, a cryptocurrency exchange, marked its eighth anniversary by highlighting its longstanding partnership with Cardano (ADA). According to blockchain media The Crypto Basic, Bitrue stated that Cardano has been part of its journey since inception.

Despite being known as an XRP-centric exchange, Bitrue emphasized its long-term relationship with Cardano in its commemorative post. The exchange listed ADA as one of the initial tradable assets upon its 2018 launch and later supported Cardano's native token (CNT), claiming to be the first centralized exchange to list CNT.

Bitrue also introduced ADA as a base currency, enabling direct trading between other digital assets and ADA. The exchange participated in multiple Cardano summits, expanding its ecosystem engagement beyond simple trading.

The company mentioned developing the first Go library supporting Cardano integration among centralized exchanges and backing grassroots initiatives aimed at strengthening Cardano's decentralization.

Bitrue summarized that over eight years, its support for Cardano has expanded across trading infrastructure, ecosystem participation, decentralization efforts, and technology development. The exchange stated it has built the ecosystem alongside Cardano and will continue to do so.

However, in actual trading and reserve structures, ADA's share remains limited. Bitrue's 24-hour trading volume exceeded $446.82 million, but ADA trading accounted for only $977,221. With total daily ADA trading at around $429.20 million, Bitrue's share is minimal.

Similarly, in reserve holdings, Bitrue's digital asset reserves totaled $181.58 million, with ADA representing just 1.67% ($2.98 million). In contrast, XRP made up 88.55% of the reserves. While Bitrue highlighted its Cardano partnership for its eighth anniversary, its operational structure still shows a significantly higher reliance on XRP.