Kraken Follows Through with Bitcoin SV (BSV) Delisting
The asset lost the support of the digital asset community, ending with a series of delistings.
Bitcoin SV (BSV)will be delisted from Kraken, based on voting and popular demand. Kraken is the third major exchange service to drop the asset, following the example of Binance and Shapeshift. The drive to delist the coin arrived after an attack against Twitter user @Hodlonaut, where the Coingeek blog posted an article calling for the doxxing of the anonymous user.
The search for the real identity of @Hodlonaut was related to the attempt of Dr. Craig Wright to sue the person for disputing the claims that Wright is the real Satoshi Nakamoto.
The delistings caused the discontent of Calvin Ayre, founder of Coingeek. After the Binance delisting, he called on the exchange for alleged fraudulent behavior.
https://twitter.com/CalvinAyre/status/1118277579587444736
Ayre also called for a class action lawsuit against Kraken, for closing the wallets for withdrawals, and thus holding back a potentially valuable digital asset. Holding BSV on exchanges may have become extremely risky following the delisting campaign. For now, it is unknown when Kraken would allow users to withdraw their BSV.
Following the series of delistings, the BSV market price was in freefall. BSV fell to $55.66 from recent peaks above $80, with a continued downtrend in the past days. For now, the price has managed to survive, but the drive is on to continue delisting the asset.
BSV had claims to being the de facto Bitcoin, after deciding not to compete against Bitcoin Cash (BCH). Afterward, the network started to attract miners and tested the largest possible blocks to be distributed. The Bitcoin SV network is built on the idea of known mining entities, instead of voluntary decentralized mining.
In a form of retaliation or coincidence, one of the largest Japanese exchanges, SBI Virtual Currency, will be delisting BCH, claiming risks and instability.
https://twitter.com/bradmillscan/status/1118288331979264000
A similar hashtag campaign has been making the rounds for BCH in general, calling for the removal of the asset from major exchanges.
Both BCH and BSV caused tremors in the digital asset markets after the November 15 hard fork, which may have led to a major slide in value in November and December, exacerbating the bear market. The BCH ticker war led to a rapid fallout in prices, as the BCH asset lost as much as 40% of its value overnight. Since then, BCH has struggled to recover the $400 level, and has hovered mostly under $300.