Poloniex Crypto Exchange Announces ‘Pre-Fork’ Trading for Bitcoin Cash (BCH)

According to reports, cryptocurrency exchange, Poloniex has announced that it will be the first exchange to enable trading for the pending BCH hard fork on the eve of an ongoing debate regarding the roadmap of the technology. The exchange revealed on Tuesday that starting from Wednesday night, it will begin offering its customers the option to purchase Bitcoin Cash SV (BCHSV) and Bitcoin Cash ABC (BCHABC) trading tokens. The exchange is operated by the Goldman Sachs-backed startup Circle.

The Move is Designed to Improve the Exchange’s Consumer Experience

This is the first time that Poloniex is offering trading pairs for a digital asset with the likelihood of a fork feasible. The move according to the exchange via a blog post, the move is seen as part of a strategy to improve customer experience. Find the blog post below:

“We’re moving in this direction to empower our customers to show their support for one digital coin over the other in their trading activity. Poloniex will support trading markets for the tokens after the hard fork as well.”

In the message, Poloniex stressed its intention to stay neutral during the split to allow the community decide the particular blockchain it will support. This will be demonstrated via advanced trading activity. The exchange also stated that it would evaluate each hard fork separately to decide which one to support or to continue pre-fork trading.

Pre-fork trading is now available for USDC/BCHABC and USDC/BCHSV along with Bitcoin trading pairs. Consumers will be able to convert their Bitcoin Cash (BCH) into an equivalent sum of BCHABC and BCHSV or vice versa if they decide to withdraw their funds. They won’t be able to withdraw their BCHABC and BCHSV ahead of a fork.

The exchange intends to continue supporting Bitcoin Cash ABC and SV for trading after the planned fork slated for Nov. 15. This news comes during a period that can only be described as a slower trading day for BCH.

Ethereum (ETH) is on a Bullish Momentum at $214.38

The charts show that the ETH/USD pair is now in the bullish area. There’s now renewed interest in the digital token suddenly following a period of turmoil for Ether. We can attribute renewed interest in Ethereum (ETH) to many reasons. One is that other digital assets and ICOs (Initial Coin Offerings) are continuing to use Ethereum (ETH) as the core platform for their operations.

Ethereum (ETH) Price Today – ETH / USD

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The fact that Ether reportedly has the best smart contract capability used by multiple businesses for the building of their own products is also a factor.

Also, as the commercialization momentum is slowly picking up again, the digital token’s price has started trending upward as it should.

We can expect Ether to pull further gains in coming months because of the overall calm in the digital asset market. Contrary to popular rumors, that Vitalik Buterin, Ethereum’s, will be stepping back from the development of Ethereum, the founder will continue in the development of his token.

In fact, he still continues to remain focused on the task. He is said to be encouraging the good work of other asset developers in the open-source community.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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