Kraken disables BSV trading, BCH jumps 10%

02 May, 2019 | Updated: 02 May, 2019
by Joeri Cant
Kraken disables BSV trading, BCH jumps 10%

The San Francisco-based cryptocurrency exchange Kraken, announced recently that Bitcoin SV trading is now disabled, while Bitcoin Cash gets to collect a 10% price jump.

'Bitcoin SV (BSV) trading is now disabled. Open orders will be canceled shortly. Please withdraw all BSV by May 31st, 2019', Kraken exchange tweeted on Monday.

The cryptocurrency exchange joined the #DelistBSV movement on April 17th, when they announced that as many as 70,545 Twitter users had casted their vote on the poll that asked 'Should Kraken delist Bitcoin SV (BSV)?'

The results were more than straightforward and showed that 71% chose the 'Yes, it’s toxic' option, 22% went for 'I don’t care', while only 7% didn’t recommend the exchange to do so.

Kraken kept its word and continued to disable Bitcoin SV (BSV) deposits.

'Deposits currently pending will be credited shortly. If you send funds in now, you may not be credited until after trading is disabled on April 29th. Please withdraw all BSV by May 31st, 2019', they stated.

Jesse Powell’s team highlighted how the team behind Bitcoin SV have engaged in behavior 'completely antithetical' to Kraken’s mission, which is the use of cryptocurrency to create a better world.

'Crypto’s future is bright. There is no room for bad actors', Kraken said.

Bitcoin Cash, in the meanwhile, is enjoying a 10% price jump, most likely due to Kraken going ahead and disabling Bitcoin SV trades, which may have sent some BSV holders to BCH.

BCH is up by more than 10% from around $230 to just above the $270 price mark on the day, with the coin gaining more than Bitcoin, Eth, or any other Top 10 coin for today.

Bitcoin Cash trading volumes are up to about $2 billion.

 BTH/USD Chart provided by Tradingview

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