Bittrex Closing Bitcoin Gold (BTG), Bitcoin Private (BTCP) Wallets

After removing markets for Bitcoin Gold (BTG), Bitcoin Private (BTCP), and Bitshares (BTS), cryptocurrency exchange Bittrex will also close down the wallets. Withdrawals will be possible until November 5.

Bitcoin Gold was delisted in September after a double-spending attack and a hack that led to losses of around $18 million, which were covered by the project team.  Bitshares, a mystifying project by Dan Larimer and a precursor to EOS, has not traded on Bittrex since 2017 due to difficulties in supporting the technology. As for Bitcoin Private, the exchange never offered pairs for this rather late fork of Bitcoin. BTCP was simply airdropped to owners of Bitcoin (BTC) and ZClassic (ZCL).

Bittrex continues with several delistings each month as the bear market has made some coins almost untradable. However, some believe its readiness to remove markets has made Bittrex an exchange to avoid.

The latest news on Bittrex delistings follows a decision by Binance to remove four digital assets. Some believe those sudden eliminations of trading pairs undermine the reputation of an exchange. However, coins and tokens have shown signs of weakness or problems, and the exchange has followed its usual policy.

https://twitter.com/realadnaan/status/1049771529955725312

Some expect the EMC2 token may face a similar fate, especially after a pre-announced 51% attack scheduled for October 13.

The news of wallets closing hardly affected the already stagnant BTG, which was trading at $26.31 at the time of writing. BTCP was at around $2.72, weighed down by its general scarcity of listings.

Delistings have picked up pace this summer, with OKEx phasing out 28 trading pairs and Poloniex continuing to trim its coin selection after being acquired by Circle, focusing on the removal of coins seen as risky or problematic. Earlier, Cobinhood had also removed obscure tokens associated with high volatility and pumps.

by Christine Masters, 10 October 2018