Robinhood Removes Bitcoin SV, Price Drops 15%
• Bitcoin SV (BSV) dropped 15% on Wednesday after Robinhood announced it would remove the coin from its crypto offerings.
• Customers can still buy, sell, hold or transfer BSV until the indicated deadline.
• After the deadline, Robinhood will sell any BSV still held in Crypto accounts at market value and credit any proceeds to customers’ accounts.
Bitcoin SV (BSV) experienced a significant decrease in price on Wednesday after Robinhood announced that it would be removing the coin from its crypto offerings. This news caused the price of the token to drop from highs near $45 to lows of $37 on major cryptocurrency exchanges.
The online trading app explained its decision to delist the BSV coin as a result of a regular review of the platform’s crypto offerings. Despite the announcement, the decision did not affect any other coins, reassuring users that their crypto remains secure.
Before the deadline of 25 January 2023 at 06:59 pm ET, customers can still buy, sell, hold or transfer BSV. However, when the deadline passes, Robinhood will sell any BSV still held in Crypto accounts at market value and credit any proceeds from the sales to customers’ accounts.
The news of Robinhood’s delisting of BSV has had a major impact on the coin’s price and will likely continue to do so in the future. As the crypto market reacts to this news, investors and traders should remain up to date on the latest developments to make informed decisions.