- EDX Markets has announced the delisting of Bitcoin Cash (BCH), causing a stir in the crypto community and sparking speculation.
- Despite the removal of BCH, EDX Markets hints at possible inclusion of XRP following its recent favorable legal ruling, aligning with regulatory compliance measures.
The cryptocurrency exchange EDX Markets, known in the industry as EDXM, has made waves with its recent announcement to delist Bitcoin Cash (BCH) from its trading roster. The decision has sent ripples through the investment community, sparking discussions and leading many to wonder about the exchange’s strategic direction. While the removal of BCH from its offerings marks a significant shift, the exchange’s price remained resilient, illustrating the volatile yet robust nature of the crypto market.
Delisting Details Emerge
The crypto sphere was abuzz with speculation on November 1, as rumors about BCH’s potential delisting from EDXM surfaced. This was subsequently confirmed by the exchange’s Chief Strategy Officer, Jeanine Hightower-Sellitto, who stated that BCH would no longer be supported on their platform. However, the reasons behind this strategic move remain undisclosed, with Hightower-Sellitto guiding users to refer to the “Trading Resources” page for current listings and suggesting a subscription to the exchange’s newsletter for future updates.
The decision seems to be in line with the company’s cautious stance on cryptocurrency offerings, previously highlighted by EDXM CEO Jamil Nazarali. In his statements, he emphasized the importance of adhering to the stringent regulations set by the U.S. Securities and Exchange Commission (SEC) to avoid having cryptocurrencies categorized as securities.
Speculations on XRP’s Future with EDXM
EDXM’s choice to streamline its cryptocurrency offerings, now limited to Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), is believed to reflect a deliberate effort to remain within regulatory good graces. This approach has also fueled anticipation within the community regarding the potential listing of XRP, especially in light of the recent legal victory where it was deemed not a security by Judge Analisa Torres.
As the market digests the news of BCH’s delisting, all eyes are on the price of Bitcoin Cash, which, during the time of reporting, has shown a notable increase to $243.67. The 1.14% uptick in price, accompanied by a 29.05% surge in trading volume, suggests that the market is reacting dynamically to EDXM’s reshuffling of its crypto offerings.
In the ever-evolving landscape of cryptocurrency exchanges, EDXM’s latest move may be indicative of a broader trend as regulatory compliance becomes increasingly paramount. The market’s reaction to these developments, particularly in the case of Bitcoin Cash, will likely continue to be scrutinized by investors and industry experts alike. As the exchange tightens its grip on regulatory compliance, the cryptocurrency community remains on alert for the next chapter in EDXM’s strategic narrative.