Market News… Go Back...
BSV Heading to Zero?
Binance, Kraken & Shapeshift Delist Bitcoin SV
As previously mentioned, the exchange Binance is delisting Bitcoin SV from its platform. This was a big blow to the Bitcoin fork, as Binance is one of the worlds largest exchanges. Following Binance's decision, other exchanges have decided to follow suit & delist Bitcoin SV from its platform. The reasoning being Bitcoin SV's team's toxic behavior on Twitter & elsewhere.
A popular mobile & web exchange, Shapeshift, have also decided to delist Bitcoin SV. Shapeshift CEO, Erik Voorhees made the announcement via Twitter:
"We stand with @binance and CZ's sentiments. We've decided to delist Bitcoin SV #BSV from @ShapeShift_io within 48 hrs."
While some have claimed that this is an authoritarian move by Voorhees, most of crypto-Twitter praised the announcement.
Unlike Shapeshift, Kraken have left the decision to delist Bitcoin SV up to its users. They have posted a poll to Twitter that raked up 61,000 votes. So far over 72% voted to delist BSV, while 21% said they don't care, leaving a measly 7% supporting BSV.
This seems to indicate that Kraken will delist BSV in the near future.
Bitcoin SV was traded on a wide list of exchanges. While the loss of Binance, Shapeshift, & apparently Kraken will undoubtedly hurt BSV, there are a few large ones that currently remain silent.
Poloniex has been quiet about the affair, as well as Huobi & Bitfinex. One can assume that they are considering delisting BSV not only due to Bitcoin SV's teams behavior but also due to the dramatic loss in value.
Calvin Ayre, the main representative of BSV on Twitter has Tweeted up a storm since Binance's announcement. So far, he has claimed all critics are trolls and the action against BSV is illegal, and of course that BSV founder, Wright is Satoshi.
"And it does not change anything. Craig is Still Satoshi, Real #BitcoinSV is still superior technology and Craig is still going to court to prove his legacy....and the market will recover."
So far BSV lost 21% of its value in 24 hours due to the delistings. Further drops are expected. The biggest coin to gain from this drop was Bitcoin Cash, which rose 4.92%.
Smaller exchanges and wallets are also dropping support for BSV. The wallet blockchain.com is dropping its support & so are others.
So far things do not look very good for BSV.