That Altcoin Delisted By Coinbase Jumped With The Only News!

This altcoin escalated as the protocol shed light on potential network changes ahead of the May hard fork.

This altcoin has been delisted by Coinbase

On November 29, 2022, Coinbase announced in its statements that it will delist altcoins such as Bitcoin Cash (BCH), Ethereum Classic (ETC), XRP and Stellar (XLM) from the Coinbase Wallet application. In the statement, it was stated that the altcoins specified as of December 5, 2022 will not be supported by Coinbase Wallet and will not be included in the application as of January 23, 2023. In a statement, Coinbase stated that altcoins were delisted from the platform due to low usage.

Stating that customers will make transactions such as buying, selling, sending or receiving these assets after the delist news, Coinbase has guaranteed that customers will not lose their assets during the delist. The exchange stated that it should be double-checked when sending assets to another address. However, he specifically emphasized that if assets are thrown into an unsupported network, they will be completely lost.

Altcoin is on the rise in the market

Bitcoin Cash (BCH) prices have risen nearly 10% in the last 24 hours as traders shed light on potential network changes ahead of the protocol’s May hard fork. According to the price charts data we cited as Kriptokoin.com, BCH rallied above the $108 resistance levels on Friday to as high as $120. The buying interest could fuel a move towards at least $150 where the next resistance level is located.

Hard fork means an upgrade on any blockchain network. The May hard fork of Bitcoin Cash is set to bring additional security and privacy to the startup network, with plans for ‘CashTokens’ which, according to the developers, will enable decentralized applications directly on Bitcoin Cash.

Other proposed improvements currently locked in include smaller transaction sizes that help speed up transaction times, and smart contracts functionality that could allow Bitcoin Cash-based apps to offer recurring payments, derivatives trading, and crowdfunding opportunities to Bitcoin Cash, among other uses.

ready to act

Andrew Kang, founder of Mechanism Capital, stated on Twitter that fundamental developments combined with BCH prices generally bottoming out set the stage for a price hike in the coming weeks. “The charts look insanely bottomed and ready for action,” Kang tweeted.

Other key factors that could fuel Bitcoin Cash’s price rise include the fact that Bitcoin Cash was launched as early as March 2023 in St. Kitts and Nevis, potentially becoming a legal tender.