Share this article
Crypto Exchanges Line Up to Support Bitcoin Cash's Hard Fork
Bitcoin cash is undergoing a hard fork on Nov 15., and it might result in a split. So which exchanges will support the new cryptocurrency?
Updated Sep 13, 2021, 8:34 a.m. Published Nov 7, 2018, 3:51 p.m.
Make us preferred on Google
Six of the top 10 crypto exchanges by trading volume have announced plans to support the cryptocurrency's upcoming hard fork on Nov. 15.
Bitcoin cash's roadmap includes upgrades to its core code every six months, but disagreement over some changes to the network have raised the specter that two distinct branches of the cryptocurrency could take shape, given that two implementations – Bitcoin ABC and Bitcoin SV – are being put forward by competing teams. While the outcome isn't clear, one scenario would see two separate cryptocurrencies arise from the fork.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
As users will automatically receive an equal amount of the new coin to the amount held in BCH, it is important that their exchange is prepared for the event and will later allocate the new tokens.
A number of exchanges have now made clear their positions should a split occur, with OKEx, Binance, Bitforex and Huobi having all stated that they will "support the hard fork." Poloniex, a rank 51 exchange for BCH, stated more explicitly that it is "prepared to support trading markets for both tokens."
Coinbase was more reserved, saying it will support the current roadmap, but it added:
"In the unlikely event that multiple viable chains persist after the fork, Coinbase will ensure that customers have access to their funds on each chain."
In preparation for the event, most exchanges have said they will suspend bitcoin cash withdrawals and deposits soon before the fork to ensure customer funds are not at risk due to instability of the post-fork network(s). Users should take care not to deposit BCH during this period in such cases.
And it's not only exchanges that are having to take decisions over the potential creation of a new coin. France-based hardware wallet maker Ledger has said that, if the fork results in separate bitcoin cash blockchains, "eventually, one of these would be the dominant chain, which we will evaluate to support again then."
It's worth noting that Bitmex recently launched a fork monitor for bitcoin and bitcoin cash. The BCH hard fork is set to go occur on Nov. 15 at around 17:00 UTC.
Here's the current status of the top 12 BCH markets on CoinMarketCap regarding the hard fork at press time:
- OKEx – support confirmed
- BitForex – support confirmed
- Binance – support confirmed
- Digifinex – no statement
- Huobi – support confirmed
- Bitfinex – no statement
- Upbit – support confirmed
- HitBTC – no statement
- Coinbase Pro – support confirmed
- Bitbank – not confirmed
- Coinsuper – support confirmed
- GDAC – no statement
Wallets
- Ledger – review confirmed
Forks image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
HYPE token surges 24% as silver futures volume soars on Hyperliquid exchange
Silver futures on the crypto derivatives exchange are currently showing $1.25 billion in volume and $155 million in open interest.
What to know:
- HYPE, the native token of the Hyperliquid derivatives exchange, jumped 24% in 24 hours as trading in silver, gold and other commodities surged.
- Silver perpetual futures on Hyperliquid became the platform’s third most active market during Asia hours.
- Because trading fees from user-created markets are used largely to buy back HYPE on the open market, the spike in commodity activity is fueling demand for the token and signaling broader growth for Hyperliquid.
Top Stories
