BitcoinCash and KuCoin
I had high hopes for BitcoinCash and I am a true believer in "hodling", but it's time to sell your BCH. Just today, Kucoin had announced that they will be removing all BCH pairs along with several currencies. This is what they have to say:
"We are excited to announce our new streamlined exchange. With our rapid growth in the first quarter we added in many new markets to provide a diverse platform for users to trade on. Now as we head into the 2nd quarter we are making many different changes to the platform based on user feedback. Several of the markets will be streamlined. KCS, USDT, and NEO will eliminate several pairs each, and [all] BCH pairs will be removed."
What does this mean for BitcoinCash? Probably nothing. Nonetheless, you can rest assure that the currency will continue to plummet within the next few days (depending on how the investors react).
Youbit's Destruction
Now, we know how influential an exchange can be on the market. It doesn't matter how small and popular they are,. When one of them goes down, the rest of the market will feel their impact. Around the December of last year, this korean exchange was hacked and suffered millions of dollars in damage. When they filed an insurance claim, it was denied. However, Korea still maintain a huge presence in the Crypto Community thanks to Bithumb and Upbit.
Sources?
Honestly, you can google this yourself and cross-reference my materials. You're a bigboy.
End
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