Coinbase Withdraws Support for Bitcoin SV
Coinbase has officially announced that it will no longer support Bitcoin SV (BSV) on its platform. This decision follows a previous announcement in December where the exchange revealed its intentions to delist BSV. As a result, BSV’s price has dropped by over 5% in the last 24 hours.
What Happens to Your BSV on Coinbase?
All remaining BSV in customers’ wallets on Coinbase have been liquidated and replaced with the equivalent market value of another asset. However, some wallets may not receive any compensation due to transaction costs associated with the liquidation and replacement process.
Bitcoin SV’s Performance
Bitcoin SV has experienced a decline in price recently. After gaining almost 110% in the last week of the year, it is now down by 15.20% in the last 30 days. The token’s daily trading volume has seen a modest increase of 7.54% to reach $90.39 million. With a total market cap of $1.43 billion, Bitcoin SV currently ranks as the 52nd largest cryptocurrency globally.
Hot Take: Coinbase Drops Bitcoin SV Support, Impacting Price
The decision by Coinbase to terminate support for Bitcoin SV has had a significant impact on its price, causing it to drop by over 5%. This move comes after Coinbase previously announced its intention to delist BSV. While some wallets may not receive compensation due to transaction costs, all remaining BSV on Coinbase has been liquidated and replaced with another asset of equivalent value. It remains to be seen how this development will affect the future of Bitcoin SV.
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