Why This Bitcoin Offshoot Is Down 6% Even As Apex Crypto, Ethereum Are Shooting Up

Why This Bitcoin Offshoot Is Down 6% Even As Apex Crypto, Ethereum Are Shooting Up

Bitcoin SV BSV/USD tumbled early on Thursday even as major coins such as Bitcoin BTC/USD and Ethereum ETH/USD clocked significant gains. 

What Happened: The drop in price comes after Robinhood HOOD said support for BSV would be discontinued. Users can continue to purchase, sell, send, and hold BSV until Jan 25. Any BSV left in a Robinhood crypto account after the deadline will be sold at market value.

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At the time of writing, BSV was down 6% in the last 24 hours, trading at $41.

Robinhood's decision was based on a detailed review of the available cryptocurrencies, according to an email seen by CoinDesk, although specifics were not disclosed.

BSV was created in 2018 by Craig Wright, a computer scientist who claims to be Satoshi Nakomoto, the pseudonymous creator of Bitcoin. BSV was built from a hard fork applied to the Bitcoin Cash blockchain, which came from the original Bitcoin blockchain. 

Price ActionBTC was trading at $18,223, up 4.64%. ETH at $1,398, up 5.11% in the last 24 hours, according to Benzinga Pro.

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Posted In: CryptocurrencyNewsTop StoriesMarketsMoversTrading IdeasBitcoin CashBitcoin SVRobinhood

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