The battle between Bitcoin Cash ABC and Bitcoin Cash SV seems to have a finish line after generating more than enough chaos in the crypto market.
After witnessing quite a height of uncertainty and volatility, what is visible is the fact that most of the crypto exchanges are welcoming Bitcoin Cash ABC (BCH ABC) on their platforms.
Before the hard fork on November 15, some prominent cryptocurrency exchanges revealed their inclination by showing support to Bitcoin Cash ABC. During this week, eventually, these exchanges have embraced BCH ABC for trading. Some of the firms have unblocked Bitcoin Cash accounts, too.
Backing BCH ABC, Coinbase also released a declaration which affirms that it will retain the ticker BCH. The Coinbase team stated in the announcement, “Since the Bitcoin Cash fork on November 15, 2018, Coinbase has been closely monitoring the BCH network. We have observed consensus in the community that the BCH ABC chain will retain the designation of Bitcoin Cash (BCH). Coinbase will also adopt this designation for BCH. Coinbase has made this decision based on a number of factors including the fact that ABC has a higher hashrate and a longer proof-of-work chain.”
Regarding BCH SV the Coinbase team explained that they intended to support withdrawal services for the BCH SV chain so that the customers may withdraw funds at a future date. This may take a few weeks or longer.
Moreover, another eminent cryptocurrency exchange, Kraken criticized the operation of the Bitcoin Cash SV camp. The CEO of the exchange Jesse Powell marked, “ this approach is anathema to the community you hope to have adopted your technology. The merits of BSV are overshadowed by the alienating threats of a few grandiose personalities. Longer chain != adoption. Victory may be pyrrhic.”
With that, dominant crypto personalities such as Roger Ver has given support to BCH ABC and redirected his own company’s mining resources to mine it.
Currently, BCH ABC is positioned as 4th largest cryptocurrency in the crypto space on CoinMarketCap, while trading at $235.