B3lp: The Hard Fork Was The ‘Reason’
The exchange made a post on its blog on May 10, stating that it had been “planning” to terminate Bitcoin Cash support, but its forthcoming hard fork had provided “a reason” to go through with the procedure.
“Since there already was a planning for the removal of Bitcash the hardfork has become a reason and strict deadline for the removal of Bitcash from BL3P,” stated the blog post.
Bitcoin Cash had caused a lot of reactions in the community, both positive and negative, when it declared it planned to go through a hard fork on May 15.
The latest stage in the developers’ plans to increase network transaction capacity, prices went up over recent weeks as holders seemed to get ready for an airdrop of coins on the new chain.
However, BCH’s instability in markets is still higher than that of Bitcoin, fluctuating significantly as Bitcoin prices experienced a drop over the weekend.
BCH- ‘Does Not Meet Requirements’
Referring to Bitcoin Cash either as “Bitcash” and “BCash,” BL3P gave the impression that it had little regret over ending its services and requiring users to take out their holdings into other wallets.
“BL3P maintains a strict selection policy when it comes to support for altcoins, bitcash, unfortunately, does not meet these requirements. For this reason, we have not made it possible to trade bitcash on BL3P. In addition, we will disable the option to withdraw bitcash per 15 May, 2018,” the blog post reads.
The move copies Hong Kong-based exchange OKEx, which also announced that it would terminate Bitcoin Cash support in April supposedly because of “inadequate liquidity.”
Bitcoin Cash was first established in August 2017, resulting from a Bitcoin hard fork. At the time, supporters stated that the coin’s bigger block size would permit for faster and low-cost transactions.