OKCoin exchange delisting BCH and BSV
While Bitcoin topped $ 1 trillion in market cap, its two forks, BSV and BCH, were removed from the OKCoin crypto exchange.
In a post on Blog Today OKCoin CEO Hong Fang stated that the delisting decision was made because he wanted to focus on protecting investors from the war with malicious misinformation.
Fang noted that the exchange regularly reviews assets listed by multiple metrics, including “including ecosystem characteristics and development” and “ethical or reputational warning signals” and two forks. This was removed after the last review. However, given its “unique history and context,” the company felt compelled to explain its decision.
“When it was reported that Craig Wright – the self-proclaimed Satoshi Nakamoto and BSV supporter – was taking steps to enforce the copyright claims of the Bitcoin whitepaper, we were in an uncomfortable, very uncomfortable situation,” the OKCoin post said.
Although Fang pointed out that the company believes that “Bitcoin is open software,” and that both personal disagreements and hard forks are allowed when it comes to open software, “we ended up struggling with the malicious war of disinformation of Craig Wright and others to ignore”. high-ranking members of the BCH and BSV communities. “
“We see both of these factors as major damage to Bitcoin – the basic layer of our industry. Before we have a better way to separate BSV from Wright’s attack on the open source community and differentiate these two derived protocols from the native bitcoin on the platform, we are more comfortable removing them. “, Concluded Fang.
OKCoin, a US-based sister exchange of OKEx, has a daily trading volume of $ 50 million, with BTC accounting for 70% of that volume. Prior to the announcement, BSV made up just $ 30,000 and BCH made up $ 150,000 of daily trading volume, both of which are on the lower end of the 32 assets OKCoin offers, according to Coingecko.
BCH had a year of ups and downs that led to the delisting. Earlier this month, Dogecoin price spike pushed BCH off the top 10 assets by market cap list, despite entrepreneur Kim Dotcom calling for a price target of $ 3,000 for each coin last December. BCH is up 70% to $ 724 at press time.
BSV had a rough year when the price fell 20% to $ 250. However, the coin has received some positive press lately after Jimmy Nguyen’s appearance at Fox Business, and the project also has strong support from Chinese users.
According to Cointelegraph