The Bitcoin Cash (BCH) split into two competing blockchains has caused tremors across the entire market. Now, one of the proponents of the SV version, Calvin Ayre, is days away from releasing documents, in which he claims to hold evidence of market manipulation for some of the major backers of BCHABC.
I will release the private docs I received next week at the conference once they become public. Amaury, Roger, Jihan, Jess Powell, Kraken and others named. Their life is going to get more exciting. Market manipulation and more.
— Calvin Ayre (@CalvinAyre) November 21, 2018
So far, there are no details as to what type of investigation has been undertaken. The US Securities and Exchange Commission has looked at the activity of Kraken in the past. But the European-based exchange continues to function. Kraken is one of the exchanges instrumental for selling assets for fiat. The market is also known for the direct trading of Tether (USDT) for US dollars.
Regarding the BCH split, the exchanges independently decided on supporting the respective branched chains, and initially there was a lack of clarity as to which one would survive. Some markets immediately sided with the BCHABC version, as in the case of OKEx.
Others remained agnostic for a while, but moved on to side with BCHABC, while putting in special provisions for BCHSV. The immediate measure was to require more confirmations for any BCHSV transaction. While this decision is up to the discretion of exchanges, the hostile attitude of the rival projects seems to hold exchanges responsible for bashing the SV version.
Recently, the Bitpanda service opened deposits for BCHABC, while in effect offering no technological support for BCHSV.
The two versions of BCH have split off completely, and currently the mining picture shows that the hashrate for both chains is declining. In the past day, the BCHSV rate is slightly higher. The side supporting the big-blocks version proposed by Dr. Craig Wright and built by nChain, still believe the project is viable, and over time would displace BCH.
After the fork and ticker reorganization, the price of BCH fell under $200, on continued weakness. Inheriting the trading of BCHABC, the original asset was taken down significantly. BCH also caused losses through OKEx futures liquidations.
On Friday, as of 2:20 UTC, BCH traded around $211.28, and trading volumes are just a tenth of the usual level, at around $84 million.
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