Coinbase announces resumption of Bitcoin Cash trading, but BCHSV is on hold

According to ethnews, Coinbase announced on November 20 that the BCHABC chain will retain the BCH title and code. Coinbase Pro and Coinbase Prime will soon resume limited trading. Trading on Coinbase.com, iOS and Android applications is expected to resume next week. Although this leading cryptocurrency exchange will soon resume BCH trading, the future of BCHSV is unclear in comparison.

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Currently, Coinbase only offers limited trading options for BCH and does not allow sending or receiving services. For example, customers can exchange BCH for BTC, but they cannot send BCH to MetaMask wallets.

According to the announcement, trading in BCHSV is not expected to resume soon, or at all:

“Our current plan is to provide withdrawal services in BCHSV so that customers can withdraw funds in the future. However, we expect this development to take at least a few weeks, if not longer.”

As expected, the reaction to the announcement was mixed. Despite Coinbase’s already significant position in the trading market, there is still no shortage of critics in the market. They believe that Coinbase acted too slowly and trading should have been restored earlier. Others say that Coinbase’s bearish attitude towards BCHSV is unfair and that the delay in BCH SV trading services will inevitably result in holders losing the opportunity to sell.

Coinbase said that it delayed trading for the sake of customer trading security, and would open Coinbase Pro and Coinbase Prime on a limited basis. Coinbase Pro is very similar to Coinbase.com, and its target users are experienced traders. Coinbase Prime is specifically for institutional investors.

The exchange also delayed BCHSV trading, citing user security as a reason. This appears to be a more common phenomenon, although not all major exchanges are handling the matter in the same way.

On Sunday, Kraken announced that it would offer both BCHSV and BCHABC trading services, but warned users not to trade with BCH SV. Kraken said BCHSV does not meet Kraken’s usual listing requirements and should be considered an extremely risky investment.

Binance also announced that it will offer trading services for both BCHSV and BCHAB, but the trading symbols for the two are different.

According to the latest report from CCN, as some mainstream exchanges resumed BCH trading services, the BCH price reached a new low. Once more retail investors enter the market, the BCH market will gradually stabilize.