Ethereum, Bitcoin Cash To Be Delisted On Coinfloor in 2020
Coinfloor To Delist Bitcoin Cash, Ethereum In January 2020
While many investors and cryptocurrency users are monitoring the price of Bitcoin, Ethereum received negative news from the UK. The oldest cryptocurrency exchange, namely Coinfloor, decided to focus their trading flow on Bitcoins and chose to delist Ethereum in January 2020.
The main concerns of the exchange representatives are that Ethereum is going through another fork (Istanbul), and the predicted results may affect the ETH in terms of trading. Moreover, such news is harmful to the project and cryptocurrency owners, taking into account that it is holding second place by market capitalization for many years.
Not only Ethereum crypto holders got a punch by British Cryptocurrency Exchange. Following the Ethereum decision, the exchange decided to delist Bitcoin Cash as well. This sounds like an appropriate action considering that Roger Ver and his Bitcoin Cash supporters are losing reputation in the community. Moreover, many experts tend to believe the project will face more issues in 2020, as the trading volume among Bitcoin Cash traders has plunged.
Pale Prospects for Ethereum?
The delisting decision has adequate reasons, according to Coinfloor’s management. The main argument that the recent fork of the Ethereum network may push away small cryptocurrency investors and traders, as well as affect the trading volume. Moreover, the representatives of the exchange have concerns regarding the network’s upgrade success. They stated that it might take several years to finish the process, and cryptocurrency users or investors won’t wait so long.
The cryptocurrency community has already divided into two camps by discussing the mentioned upgrade of Ethereum. Some users tend to believe that Ethereum is going to perform a successful upgrade, which will boost the Ethereum price towards higher positions. The opposite side doesn’t think that Vitalik Buterin’s ambitions to shift the network to Proof-of-Stake can be held as fast as possible.
Focusing on Bitcoin
In order not to lose traders and users, Coinfloor wants to change its plans for 2020. In a nutshell, the main focus of the oldest UK’s exchange to focus on Bitcoin trades and deals. In comparison to Ethereum and Bitcoin trades, Bitcoin has a significant advantage for British traders. Although both delisted cryptocurrencies have good stats in terms of volume trading, this is not enough for Coinfloor to continue supporting the pairs.
Coinfloor is the first cryptocurrency exchange that has announced the delisting of major cryptocurrencies. Unlike Coinfloor, Binaryx offers its users and traders to buy and sell more than 40 cryptocurrencies, believing that more digital currencies will be relevant for traders in 2020. You can buy and trade Ethereum, as well as Bitcoin Cash, together with professional traders via social trading feature.