The domino effect was in full swing, as Binance’s Bitcoin SV [BSV] delisting buoyed several exchanges to follow suit. The now 14th largest cryptocurrency in the market had a disastrous start to the week, with a slew of de-platforming announcements spelling a bearish wave.
A mere three hours after Binance’s announcement, Shapeshift’s CEO Erik Voorhees announced that BSV would be delisted from their services, followed by a Kraken pool hinting at delisting and pulling the trigger less than a day later. Since then, several cryptocurrency platforms have joined the delisting brigade.
The Hong Kong exchange Bitforex, took the cautionary Kraken approach, putting out a pool to gauge public sentiment before delisting the coin. Bitforex stated that if the majority voted in favor of delisting, the exchange would pull the trigger. After over 50,000 votes, over 55 percent of the respondents were in favor of the delisting, which now looks imminent.
Bitrue, the California-based exchange announced that it will also show the door to the Bitcoin Cash [BCH] hardfork, stating via a tweet:
“To preserve our integrity & community trust, we will delist $BCHSV before it causes trouble and destroys more confidence in the crypto space!
$BCHSV will be delisted within 24hrs. Withdrawals will be kept open @BitrueOfficial .”
The UK-based cryptocurrency trading platform Bittylicious announced on April 16 that Bitcoin SV will be off-loaded from their services as well. Besides the “low volumes” of the coin, the platform pegged the “toxic litigious environment” that its proponents created as the main reason for the delisting.
Other platforms to hint at a possible Bitcoin SV delisting from their services were bitcoinrewards.com and Cryptoradar.
The delisting dilemma has seen the price of Bitcoin SV plummet by over 20 percent after the Binance announcement. The coin fell two spots on the global coin ladder, allowing Monero [XMR] and Dash [DASH] to surge ahead.
On the bright side, if there is one, Satoshi’s Vision did foresee delisting on the horizon, particularly after CZ’s “Anymore of this sh!t, we delist,” tweet, and came up with a back-up. A “Bitcoin SV based exchange” named FloatSV was launched, in partnership with OKEx, based on an April 12 announcement, a day after the aforementioned CZ tweet.
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Bitcoin SV’s roller coaster price market, R3’s new partnership and more
Crypto News – 22 May – BSV’s roller coaster price market, R3’s new partnership and more
— AMBCrypto (@CryptoAmb) May 22, 2019
Crypto News – 22 May
Ethereum Foundation’s latest update: Ethereum Foundation released a blogpost, highlighting its allocation of funds for the present and future development of the Ethereum network
Read more at https://bit.ly/2wcDJp9
Israel court makes landmark ruling: An Israeli court classified the world’s largest cryptocurrency as an asset, and not as a currency
Read more at https://bit.ly/2JTrJAW
New chapter for Ripple: Ripple’s Pat Thelen was elected onto the U.S Faster Payments Council’s Board of Directors
Read more at https://bit.ly/2YJCr1b
Craig Wright gets attacked, again: The latest crypto-proponent to attack Wright was Monero’s Ricardo Spagni, who called Wright ‘so dumb,’ and attacked his legal credentials
Read more at https://bit.ly/2EBvtnx
CryptoCompare exchange review: Bitcoin [BTC] to USDT market share fell for the first time in 6 months post-Bitfinex fiasco, the report found
Read more at https://bit.ly/2WZfnuX
Ron Paul on crypto-ban: Former Congressman Ron Paul is in the news after he claimed that Bitcoin [BTC] and crypto-ban was highly unlikely as US Dollar will self-destruct
Read more at https://bit.ly/2WrgjLL
Bitfinex launches Tokinex: Bitfinex announced its collaboration with a hybrid Ethereum-based trading platform, Ethfinex, to launch an Initial Exchange Offering [IEO] platform, Tokinex
Read more at https://bit.ly/2HJ27UH
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