Coinbase Delists Yet Another Crypto Asset• November 8, 2023 11:32 am • Comments
Coinbase has announced that it is delisting yet another crypto asset from its platform.
The centralized cryptocurrency exchange informed its customers that it would be delisting BSV on January 9th, 2024, and informed clients that they needed to liquidate or shift BSV balances outside of Coinbase by that date.
Failure to do so could result in a loss of funds. BSV is a fork of Bitcoin Cash and Bitcoin Cash is a fork of Bitcoin.
No official reason was given for the delisting of BSV, but this isn’t the first time Coinbase has delisted a digital asset recently.
The delisting may be due to regulatory pressures the centralized exchange is facing from bureaucrats. Here’s the letter Coinbase sent out to customers on Monday:
According to Cryptonomist:
The blocks on the BCH blockchain are significantly larger than those of bitcoin, allowing the queue of transactions waiting for confirmation to be cleared much faster.
In fact, recently the average fee per transaction on BCH has almost always been less than a cent, while on bitcoin it has almost always been over $1.
Here’s what members of the crypto community are saying after the recent announcement from centralized crypto exchange giant Coinbase.
But why would they suspect loss is imminent?
bc they’ve seen ALL the evidence & it “Probably” scares them pic.twitter.com/NQYXhIgSLU
— John Pitts (@EquityDiamonds) November 7, 2023
CERTAINTIES IN LIFE:
3. @coinbase will exploit their own customers using any available catalyst…
— John Pitts (@EquityDiamonds) November 6, 2023
BTC guys celebrating the "news" that Coinbase Ending Support for #BSV lol!
When did Coinbase support BSV? did I miss something? 😂
— Ryuushi (@_electronicCash) November 7, 2023
Bein Crypto provided a price analysis for BSV:
The technical analysis from the daily timeframe shows that the BCH price accelerated its rate of increase since bouncing at an ascending support trendline on October 9 (green icon). This also caused a reclaim of the $40 horizontal area.
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