After releasing a statement that bitconnect will no longer be lending or staking on the platform the price of the BCC token fell over 80%. The staking platform has been called a Ponzi scheme for a long time. It was only a matter of time before this happened with the cease and desist letters it got from 2 states in America.
The statement goes on to say that BitConnect will now operate solely “for wallet service, news and educational purposes.”
“We are closing the lending operation immediately with the release of all outstanding loans,” the statement also read. “With release of your entire active loan in the lending wallet we are transferring all your lending wallet balance to your BitConnect wallet balance at 363.62 USD.”
This rate has been calculated based on last 15 days averages of the closing price registered on coinmarketcap.com,” it continued. “You are free to withdraw your BitConnect coin currently in QT wallets that was used for staking as well. We are also closing BCC exchange platform in 5 days.”
“In short, we are closing lending service and exchange service while BitConnect.co website will operate for wallet service, news and educational purposes,” it ended.
What do you think? Will the exchange bitconnectx be successful after this???