Will BitConnect’s BCC Token Become a Dead Coin?
The BitConnect token (BCC) will soon become a dead coin as the last cryptocurrency exchange that still accepts it has announced its intention to quit collaboration.
A less-known cryptocurrency trading platform and the last one to trade the BCC token, TradeSatoshi, shared on Twitter that will remove BitConnect’s token from its trading system on 10 September. Notably, BCC still has a market cap of $ 6,676,627, according to CoinMarketCap.
The following coins will be delisted from Tradesatoshi Exchange the 10-09-18
BCC, LBC, EBLU, SLC, BSS, FRX, HYPER, DMCC, JESUS, TPAY. pic.twitter.com/6jEn8N8y8K
— Trade Satoshi (@TradeSatoshi) August 10, 2018
For those unfamiliar, BitConnect was once a famous cryptocurrency investing firm, considered for a long time a Ponzi scheme because of the high dividends promised to investors.
As reported by Coindoo, BitConnect suspended its activities for an indefinite period in January 2018 after receiving two cease and desist letters from state authorities for operating beyond the laws and being involved in multiple crypto attacks. At that time, BCC was in the top 20 most successful tokens, recording a 65% increase in early January.
Immediately after the company closed its doors back in January, its BCC token had a 90% drop in value- from $ 400 to about $ 7 in just a few days. Today, BCC is traded at $ 0.679889, according to CoinMarketCap.
A week after the cessation of cryptocurrency firm’s operations, the company was hit again by a number of lawsuits – investors wanted their money back in the amount of $ 771,000.
Currently, there is no data on BCC’s 24-hour traded volume. However, at the beginning of the month, TradeSatoshi registered daily sales worth $ 10,000.