April has been a rather challenging month for Bitcoin SV (BSV) as leading crypto exchange Binance delisted the cryptocurrency from its platform followed by a few others who did same. This was mainly motivated by a desire to get back at Craig Wright for “bullying” some members of the crypto community who questioned his Satoshi Nakamoto claims.
Although this was intended to harm Wright or at best stop him from continuing the claims, it seems to have turned out as a publicity for him and his cryptocurrency BSV. During the delisting crisis, some crypto exchanges which did not have BSV listed decided to bring it on board. In fact, some decided to delist Bitcoin Cash which is BSV’s closest rival in protest.
It also apparently brought the name BSV to many as internet users’ attention was drawn to the cryptocurrency. This is clearly shown by the Google search trend for Bitcoin SV/BSV in the last 30 days. Of course, bringing the name to potential users also means getting new users in the process.
Binance was the first exchange to delist BSV after its CEO threatened to delist it if Wright did not stop harassing his opposers. Following the delisting by Binance, Kraken and ShapeShift as well as Blockchain Wallet withdrew support for the asset all in a single day. OkEx, however, made it clear it wasn’t going to delist BSV while other exchanges remained silent on the matter.
This dealt a devastating blow to BSV making it lose a significant part of its value in just 24 hours and the crash continued for some time until other exchanges decided to list it. BSV is currently one of the very few cryptocurrencies in the green at press time when over 90% of the market is in a slump.
Wright has also become famous because of the incident, at least some people in the community who didn’t know him before now do. It is, therefore, safe to say that the negative news intended to crush BSV has actually turned out to be good for it. Just so you know, BSV has climbed one step to become the 13th largest cryptocurrency by market capitalization from being the 14th.