Following the announcement from crypto exchange Poloniex that it
would enable “pre-fork trading” in the two proposed Bitcoin
Cash (BCH) forks – Bitcoin Cash ABC and Bitcoin Cash SV –
preliminary trading data suggests we already have a clear winner
among the two competing proposals .
According to the most recent price data from Poloniex (UTC 06:40
AM) , BCH ABC is trading only about USD 100 below, or 8%
lower, compared to its parent coin BCH. However, the competing
BCH SV alternative, backed by the self-proclaimed Satoshi Craig
Wright , sometimes referred to as “Faketoshi”, and others, is
trading roughly 90% lower, at only USD 52 as of press time.
As can be seen in the chart, the first couple of hours of trading
were extremely volatile for both of the alternatives, but the market
stabilized somewhat in the early hours of Friday morning. It is
worth noting that the market for both BCH ABC and BCH SV is
still very thin and illiquid, which means more erratic price action
should be expected until the market finally finds its balance.
In order to trade the proposed coins – which do not yet exist on
the blockchain – Poloniex users were required to convert their
BCH coins to one of the fork proposals, either BCH ABC or BCH
SV. Making such a move obviously involves significant risk, as
evident by the 90% losses seen in BCH SV.
According to the exchange, deposits and withdrawals of the
proposed forks will only be available after the actual hard fork
takes place on November 15. In the meantime, users are welcome to
trade the coins within the exchange, but Poloniex warned in an
update on its website that “trading in these assets can be
extremely risky.” It further added that “It is possible that one
of these chains will not be economically or technically viable after
the fork, and its value will drop to zero.”
would enable “pre-fork trading” in the two proposed Bitcoin
Cash (BCH) forks – Bitcoin Cash ABC and Bitcoin Cash SV –
preliminary trading data suggests we already have a clear winner
among the two competing proposals .
According to the most recent price data from Poloniex (UTC 06:40
AM) , BCH ABC is trading only about USD 100 below, or 8%
lower, compared to its parent coin BCH. However, the competing
BCH SV alternative, backed by the self-proclaimed Satoshi Craig
Wright , sometimes referred to as “Faketoshi”, and others, is
trading roughly 90% lower, at only USD 52 as of press time.
As can be seen in the chart, the first couple of hours of trading
were extremely volatile for both of the alternatives, but the market
stabilized somewhat in the early hours of Friday morning. It is
worth noting that the market for both BCH ABC and BCH SV is
still very thin and illiquid, which means more erratic price action
should be expected until the market finally finds its balance.
In order to trade the proposed coins – which do not yet exist on
the blockchain – Poloniex users were required to convert their
BCH coins to one of the fork proposals, either BCH ABC or BCH
SV. Making such a move obviously involves significant risk, as
evident by the 90% losses seen in BCH SV.
According to the exchange, deposits and withdrawals of the
proposed forks will only be available after the actual hard fork
takes place on November 15. In the meantime, users are welcome to
trade the coins within the exchange, but Poloniex warned in an
update on its website that “trading in these assets can be
extremely risky.” It further added that “It is possible that one
of these chains will not be economically or technically viable after
the fork, and its value will drop to zero.”
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