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November 2, 2023

EDXM Delists Bitcoin Cash: Implications and Community Speculation

Natasha Fernandez
Written byNatasha FernandezWriter
Researched byNikos PapadopoulosResearcher

Introduction

A recent report has confirmed that the U.S.-based virtual asset exchange, EDXM or EDX Market, will be delisting Bitcoin Cash (BCH) from its trading offerings. This news has attracted the attention of investors and sparked curiosity within the cryptocurrency community.

EDXM Delists Bitcoin Cash: Implications and Community Speculation

Confirmation of Delisting

On November 1, speculation arose regarding the removal of BCH from the list of supported cryptocurrencies on the EDXM platform. In response to this speculation, Jeanine Hightower-Sellitto, the Chief Strategy Officer (CSO) for EDXM, confirmed that the exchange will no longer offer support for Bitcoin Cash.

However, specific details regarding the reasons for delisting BCH were not provided by the exchange. When asked about the timing and rationale behind this decision, Hightower-Sellitto directed users to the exchange's 'Trading Resources' page for information on current cryptocurrency offerings. She also encouraged users to subscribe to the exchange's newsletter for updates on future listings.

EDXM's Selective Approach

EDXM CEO Jamil Nazarali previously explained that the exchange takes a selective approach to cryptocurrency listings due to regulatory considerations. In compliance with U.S. Securities and Exchange Commission (SEC) regulations, EDXM has chosen to list only a few cryptocurrencies to prevent them from being classified as securities.

Currently, the EDXM platform offers trading for Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) only. This limited selection aligns with the exchange's commitment to regulatory compliance and the avoidance of securities classification.

Implications and Community Speculation

The delisting of Bitcoin Cash on EDXM has left the cryptocurrency community in suspense, with many speculating on the reasons behind this move. As the cryptocurrency landscape continues to evolve and regulations impact trading offerings, EDXM's decision may signal a broader trend within the industry. The community eagerly awaits further details and explanations from EDXM regarding the delisting of Bitcoin Cash.

Conclusion

Despite the delisting news, the price of Bitcoin Cash saw an increase on Thursday, November 2. As of writing, the price of Bitcoin Cash was up 1.14% to $243.67, with a trading volume rise of 29.05% to $234.29 million. The market cap of the cryptocurrency also rose 1.14% and stood at $4.76 billion. The market's response to the delisting decision highlights the resilience and ongoing interest in Bitcoin Cash.

About the author
Natasha Fernandez
Natasha Fernandez
About

Natasha "CryptoQueen" Fernandez bridges the gap between blockchain buzz and casino charisma. From New Zealand's serene landscapes to the volatile world of crypto, she's making waves in the online gaming sphere. With CryptoCasinoRank, she paints a future where chips meet chains seamlessly.

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