BL3P Removes Bitcoin Cash (BCH) Before Hard Fork
BL3P announced on 10th May 2018 that it had already been planning to stop supporting Bitcoin Cash (BCH). The upcoming hard fork provided them with a strong reason to do so.
According to the announcement, the exchange said:
“Since there already was a planning for the removal of Bitcash the hardfork has become a reason and strict deadline for the removal of Bitcash from BL3P.”
The cryptocurrency had been in the news a lot due to its plans of a hard fork due on May 15. As of lately, the cryptocurrency had seen a lot of increase in the price at which it has been traded due to a BCH airdrop which the holders had been preparing for.
Bitcoin Cash’s plans for hard fork are the latest efforts by its developers to increase the network transaction handling capabilities of the cryptocurrency’s ecosystem. What the developers couldn’t work upon was the volatility in the BCH market which is still higher than that of Bitcoin.
The crypto exchange had almost no remorse over shutting its BCH operations down. In the official blog, BL3P said:
“Everyone who had bitcoins on BL3P on 1 August at 15:16:49 CEST, has received an equal amount of Bitcoin Cash (bitcash). BL3P maintains a strict selection policy when it comes to support for altcoins, bitcash unfortunately does not meet these requirements. For this reason we have not made it possible to trade bitcash on BL3P. In addition, we will disable the option to withdraw bitcash per 15 May, 2018.”
BL3P hasn’t been the only crypto exchange to halt supporting BCH. Recently, OKEx announced that it would cease supporting BCH from April 2018 due to the “inadequate liquidity” of the cryptocurrency.