The [BCC] token for Bitconnect cryptocurrency lending platform, is set to be delisted from TradeSatoshi, which according to reports is the last exchange which still trades the token. TradeSatoshi, which has a daily trading volume of less than $1.16 million announced on Twitter that it would delist the BCC token on Sept. 10. This would be the nail on the coffin of the token which many considers dead already.
BitConnect started as a pyramid Ponzi scheme masquerading as a cryptocurrency lending platform. The platform’s token (BCC) was once a top 20 crypto-coin with a market cap of over $2.5 Billion, and also becoming one of the most hyped cryptocurrencies investing and lending platform in 2017. Its technique involves luring investors to pour in millions of dollars into its BCC token, promising large Returns on Investment (ROI).
BitConnect collapsed earlier this year, shutting down its cryptocurrency exchange and investment platform citing distributed denial of service (DDoS) attacks, bad publicity, and regulatory scrutiny. The shutdown came as a result of a cease and desist order from a Texas’ securities regulator.
TradeSatoshi which is the last platform still listing BitConnect’s token decided to delist the tokens after its value plummeted by almost 90%, dropping from an unprecedented high of about $400 USD to $7 USD in January. The token then made a surprised upsurge to $70 before plunging to its current $0.67.
According to the tweet TradeSatoshi posted on Friday, the exchange disclosed that other tokens to be delisted alongside BCC by September includes LBC, EBLU, SLC, BSS, FRX, HYPER, DMCC, JESUS, and TPAY. As of today, users can still trade BCC on Trade Satoshi cryptocurrency exchange desk.