Bitcoin SV (BSV) Delisted from Binance, Other Exchanges to Follow
After an attack against user @Hodlonaut from the Bitcoin SV community, the project lost favor with the wider crypto proponents.
Bitcoin SV (BSV) was officially delisted from Binance, just days after Changpeng Zhao threatened to remove the asset based on unacceptable behavior from the coin’s community. The Coingeek blog called for the doxxing of user @Hodlonaut, for disputing the claims of Dr. Craig Wright that he is Satoshi Nakamoto, Bitcoin’s real creator.
On social media, cryptocurrency proponents went on to support @Hodlonaut, leading up to the actual, official delisting of BSV from Binance.
Based on the Binance criteria for listing an asset, BSV fell through on several counts, including its approach to public communication. BSV has been seen as a dubious claimant to fame, especially after Craig Wright claimed to be following Satoshi’s true vision.
BSV was created after a branching of the Bitcoin Cash network on November 15, 2018. Afterward, the Bitcoin SV project competed for mining levels, eventually conceding defeat and abandoning the “hash war”. Later, the coin drifted with a much lower price.
Following the news of the Binance delisting, Shapeshift immediately reacted, stating its decision was based on the critical stance of Binance’s Zhao.
The Kraken exchange is still holding a poll on the delisting, with more respondents calling for not carrying BSV.
Following the worsening situation and the disapproval for both Craig Wright and Calvin Ayre, another vocal proponent of BSV, the price of the asset sank immediately.
BSV lost more than 21% overnight, sinking to $56.50, with the possibility of further price drops. The call on social media is to delist the asset from all exchanges, essentially destroying all price-setting mechanisms.
While BSV lost its claims to being the de facto Bitcoin Cash (BCH) and lost the ticker, the renewed message was that it was a better version of Bitcoin. The chief aim of the Bitcoin SV project was to build and proliferate very large blocks.
Following the news, BCH rose to $314.89, going against the general falling trend in the markets.