By Following yesterday’s bitcoin cash platform split, a handful of top cryptocurrency exchanges are already begun distributing the two new tokens. The scheduled hard fork was originally intended to be an upgrade for the network but after it took place the longstanding Bitcoin ABC version found itself with a rival network and a new token Bitcoin SV once it gathered enough support from the mining community.
The hard fork took place around 6PM UTC on Thursday and event saw the new networks both producing new blocks soon after. Bitcoin ABC took the lead quite early and the time of going to press ABC had already mined 34 more blocks than SV with 59% hash power according to data reported by Coin Dance.
Binance announced on Friday that all eligible users have subsequently received both BCH ABC & BCH SV which are of course the tokens that were born as a result of various stakeholders who were providing support for the two competing versions of the BCH software.
Binance claims that the tokens were allocated according to a ration of 1 BCH = 1 BCH ABC and 1 BCH = 1 BCH SV and this is based on a snapshot taken yesterday of all the BCH balances.
Binance added that trading for the new pairs kicked off at 8:00 UTC today at BCH ABC/BTC, BCH ABC/USDT, BCH SV/BTC and BCH SV/USDT but deposits & withdrawals of these tokens are currently on hold until such a time as when the wallets & blockchains are dubbed as “usable & stable.”
Poloniex & Bitfinex’s exchanges stated that they have also made the change to the new assets:
Bitfinex tweeted the following:
“BAB and BSV have been successfully credited to Bitfinex users and BCH positions have been claimed. The BCH symbol will not be assigned until the fork is complete.”
Poloniex had a similar tweet go out:
“We’ve finished converting all BCH balances to BCHABC and BCHSV. The BCH market is now disabled. BCHABC/BTC, BCHSV/BTC, BCHABC/USDC, and BCHSV/USDC markets are open. Deposits and withdrawals of BCHABC and BCHSV are still paused, and will remain paused until the networks stabilize.”
CoinMarketCap, a renowned crypto data provider currently lists both BCH SV and BCH ABC, reporting prices at $109 and $293, respectively as well as the former token BCH at $405. If the data is, in fact, correct it’s notable that SV is down 23% while ABC has gained 1.2%.
Are you a BCH SV or BCH ABC holder? Let us know what your thoughts on the hard fork are by commenting below.
Follow CoinBeat on Facebook, Twitter & Telegram
Subscribe to our CoinBeat Newsletter
Submit an article to CoinBeat
View live Marketcap Prices here
Comments