Nanex, the small-scale exchange that started off with one pair, XRB/LTC, will soon list Bitcoin Private (BTCP). The digital asset, forked from the ZClassic chain and awarding coins to Bitcoin holders as well, had been searching for an exchange for a while now.

A listing on HitBTC was slow to come, so the outreach from the NANO team came as a surprise. Initially, Nanex was intended to give easy access to the XRB digital asset.

So far, the new coin, forked on February 28, has not seen any hint at a possible market price. And the trading may open at an unfortunate moment, when market prices across the board are tumbling. However, the other related asset, ZClassic (ZCL) suffered deep losses after the fork, sliding from as high as $180 to lows of around $7. For a while, ZCL recovered to around $16 before crashing again under $10.


Nanex at the moment is a very small exchange, and launched its trading with a volume of just 4 LTC. Now, daily trading is less than 70 LTC, as the XRB digital asset has lost some of its appeal. XRB is back below $10 after the recent run.

At this point, it is unknown how BTCP would be paired on the exchange, and whether it would trade against XRB as well. So far, other exchanges are only redistributing the BTCP coins, without promising trading. Many BTCP coins may remain unclaimed, as skepticism of hard forks is rising.

But the BTCP community believes this fork has unique value based on the Zk-Snarks technology, so far considered one of the better approaches to sending untraceable transactions. Yet only time will tell if the feature is enough to command a significant market price.

With Nanex seeing very thin volumes, price discovery for BTCP may be problematic and trading would remain volatile.

Meanwhile, other more prominent forks of Bitcoin continue to sink with the market, remaining depressed and around 75% below their peak levels. Bitcoin Gold (BTG) slid below $80, while United Bitcoin (UTBC) lost half its value in a week to trade around $27, from peaks after the launch near $500.

So it is quite possible that even highly promoted forks see only a brief period of overheated prices before sliding.