Binance to Delist Bitcoin SV

Bitcoin SV price reacted to with news with big decline (-21,51% in ~12 hours)
16 April 2019   390

On April 15, the Binance cryptocurrency exchange announced the delisting of Bitcoin SV (BCHSV).

In its blog, the company announced that the coin will be removed from the platform on April 22 at 10:00 UTC. The possibility of withdrawing funds will be available until July 22 of the current year.

Binance representatives noted that they periodically evaluate the assets represented on the platform. The latter, according to them, should “meet high standards,” which is necessary to protect the interests of users. The criteria evaluated include project team activity, quality of development, network / smart contract stability, level of communication with the public, contribution to the development of a healthy and sustainable cryptocurrency ecosystem, etc. However, no specific reasons are given for Bitcoin SV delisting.

A few days ago, Changpeng Zhao criticized Craig Wright, the self-proclaimed Satoshi Nakamoto, promising to remove the Bitcoin SV he supports from the listing.

Binance to Launch BTC-Pegged Own Chain Based Token

In this way exchange wants to transfer crypto based on own blockchains to its ecosystem and  increase liquidity and trading volumes at Binance DEX
17 June 2019   158

In the coming days, Binance Exchange will launch a series of BEP2-tokens, tied to different cryptocurrency rates, on its own Binance Chain blockchain. The first token of this type will be BTCB - its rate is tied to Bitcoin.

BTCB is backed with bitcoins located in Binance reserves. The address for storing bitcoins has already been made publicly available, so that users can verify that the token has the necessary support.

In the future, the BTCB / BTC trading pair will be launched on Binance.com. With its help, users will be able to convert the original cryptocurrency into the Binance Chain token. The price spread in this case will be about 0.1%.

According to Binance, in this way it can transfer cryptocurrencies based on its own blockchains to its ecosystem and currently not represented in the Binance Chain. The company expects the launch of new tools to increase liquidity and trading volumes at Binance DEX.

While this approach is more centralized than atomic swaps, we believe it provides a higher degree of ease-of-use to most traders. And most traders are already trusting Binance.com to hold their funds anyway.
 

Binance Team

To date, Binance has independently reserved 9,001 BTC and released 9,001 BTCB. The BTCB / BTC trading pair on Binance.com will tentatively appear within a day, and an asset will be added to Binance DEX after approval of the relevant offer.