The news broke earlier today via a press release from Binance, simply titled “Binance Will Delist BCHSV”. In the post, the exchange writes that the move is part of its periodic reviews of the digital assets it chooses to list and whether they meet certain standards set by the firm. Binance justifies this by stating:
“When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all of our users.”
Following the news of the Binance delisting, the price of Bitcoin SV has plunged in a move that is completely out of sync with the wider crypto market. Whereas many digital assets have posted slight (one or two percent) gains over the last 24-hours, Bitcoin Cash Satoshi’s Vision has shed almost $100 million from its market in the last hour alone.
The price of the controversial fork-of-a-fork is now less than $65, down from over $70 just minutes ago.
It’s anyone’s guess to know whether the price will keep on declining. However, as the exchange has made it clear that trading on its platform will end on April 22nd, people are likely to consider selling BCHSV for other cryptocurrencies in order to halt potential losses.