SBI Virtual To Delist Bitcoin Cash (BCH) As Top Crypto Exchanges Remove Bitcoin SV (BSV)
SBI Holdings will delist the cryptocurrency Bitcoin Cash (BCH) from the Japanese company’s virtual currency exchange, reports indicate.
As reported by Cointelegraph Japan on Tuesday, April 16, the financial services company intends to remove all trading pairs for the BCH coin by June this year.
A statement from the firm noted that BCH holders have until the end of May to transfer or sell all their bitcoin cash assets.
Bitcoin Cash is a hardfork of leading cryptocurrency Bitcoin (BTC) that occurred in August 2017. The coin itself underwent another hardfork in November 2018 leading to the creation of a split version called Bitcoin SV (BSV).
Now SBI Virtual Currencies says it will delist the Roger Ver supported BCH within a month, just days after a number of major exchanges announced plans to delist BSV. Major crypto exchange Binance announced that it would cease all trading activities involving BSV pairs beginning April 22.
Other exchanges to reveal such plans are Kraken and Shapeshift. The move by these exchanges has given rise to a Twitter call for more de-listings of the coin under the hashtag #DelistBSV.
The genesis can be traced to a warning Binance CEO Changpeng Zhao sent to Craig Wright asking the self-proclaimed Satoshi to stop harassing those discrediting his allegations.
Bitcoin SV proponent Wright is an Australian cryptographer and computer scientist who has courted controversy by claiming to be the mysterious Satoshi Nakamoto.
The controversial crypto personality is also the subject of a lawsuit filed by the estate of Bitcoin pioneer Dave Kleimann.
SBI Holdings chief executive Yoshitaka Kitao is among the many people that were highly critical of the Bitcoin Cash hard fork. And, reportedly, Kitao and Wright have some sort of connection. The BSV founder’s tweet in early January claimed the two were friends.
In the wake of the delistings, it is worth noting that the two coins have and continue to post dissimilar performances on the crypto market.
Bitcoin Cash is currently trading at $311, down 1.95 percent in the last 24 hours. The coin that is ranked fifth by market cap gained almost 6 percent on Tuesday.
BSV, currently ranked 14 among top 20 cryptocurrencies by market cap, is trading at $56, seemingly up after dropping nearly 21 percent of its value following the Binance announcement.
According to XBT.net, BCH is up over 2.8 percent over the last seven days while BSV has declined nearly 30 percent over the same period.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.