OKEx to Delist Bitcoin Gold by the end of January

Bitcoin Gold is a hard fork of Bitcoin (to be specified in a technical term); Bitcoin Gold is a distributed digital currency. It is decentralized just like any other open source currency in the market. The hard fork is a concept where old data of the platform is restored automatically once the user installs the update on his device.

Bitcoin Gold had to suffer on May 18, 2018, due to double spending attack. Double spending attack is where the ledger is hacked to use the already used coins once again.

In May 2018, Bitcoin Gold was suffered 51% hashing attack by an anonymous user. This assault made it possible for the attacker to access the blockchain ledger where the records of all the transactions were kept, and to spend the same crypto coins one more time. During this May attack, 388,000 BTG which had a value of around USD 18 million, was looted from several cryptocurrency exchanges mentioned on the ledger. One cryptocurrency exchange named Bittrex delisted Bitcoin Gold after this incidence and also refused to help pay some of the damages occurred.

Now, another cryptocurrency exchange named OKEx has announced to delist all Bitcoin Gold (BTG) futures due to insufficient liquidity. The decision will be valid from 25th January. The crypto exchange informed that it would deliver all type of contracts on the same date at a registered price on the exchange. BTG/USD records the value.

As per the official press release is given by the exchange, it will let go of all the data related to the Bitcoin Gold futures contracts on January 30.

The exchange added that, if one is holding any remaining BTG assets in his/her futures account, one is suggested to transfer it before the mentioned deadline. Otherwise, the exchange would automatically transfer it to the person’s wallet.

Meanwhile, Bitcoin Gold takes the 27th spot in CoinMarketCap rating with a market capitalization $191.4M. The normal trading volume/day of BTG came to $3.6M. In spite of the debilitating news, BTG is, for the most part, unaltered on a day-over-day platform and is in harmony with the remaining of the market. As of now, it is changing hands at $11.84.

Bitcoin Gold forked from Bitcoin on October 24, 2017. Not long after the introduction, the website of the venture succumbed to DDoS assault.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button