One of the top cryptocurrecncy exchange that has been known to have millions of users has announced through one of its official social media channel the plan to delist from its exchange BSV fully known as Bitcoin Satoshi Version.
According to the part of the announcement gathered by Keycryptohub, Binance has made it known that projects listed on its exchange are reviewed periodically to ensure they meet the high level of standard expected and when a coin or token longer meets such standard, it is best to protect their users.
Several factors were highlighted for conducting in-depth review which includes contribution
Commitment of team to project
Network/smart contract stability
Level of public communication
Contribution to a healthy and sustainable crypto ecosystem
Binance has therefore declared that BSV will be delisted and all trades ceased on 29/04/2019. Traders are urged to make withdrawals of the BSV will support will be given till 22/07/2019.
Interestingly, ever since the delisting announcement from Binance, BSV has been experiencing a massive downtrend with its price currently trading at $59 as at this press report.
Two More Delists $BSV
In the same development, ShapeShift , another crypto exchange has made it known through its CEO, Peter Smith on Twitter that they will delist Bitcoin SV within 48 hours.
One of the long standing non-custodial wallet services provider, Blockchain.com has also declared that they will close services for BSV in the next thirty days urging their users to sell or take their BSV elsewhere.
It should be recalled that Bitcoin Cash was hardforked in November,2018 and resulted into two different coins with different ideologies, BCHABC and BSV. The Craig Wright fully supported BSV has been very controversial prior to the delisting announcement of Binance.
The question on the mind of many crypto traders, investors and enthusiasts is that, will other exchanges delist BSV? Or Is this the end of BSV?