Bittrex announced Bitcoin Gold delisting, but BTG/UD traders gave it a yawn
|- BTG/USD is rangebound, capped by $22.00.
- Bittrex delisting news failed to impress the community.
Bitcoin Gold is changing hands at $21.47 amid quiet session. This coin created as a Bitcoin fork takes 29th place in the cryptocurrency ratings with total market value $368M and average daily trading volume $17M. The currency has gained over 7% in the recent seven days; however, the upside momentum stalled on approach to $22.00 handle.
Currently, Bitcoin Gold is most actively traded on Bithimb exchange with over 20% o all transactions are executed against KRW.
Meanwhile, Seatle-based Bittrex delisted Bitcoin Gold following the disagreement over 51% attack compensation. The exchange said that it would keep the coin listed in exchange of 12 372 BTG, but Bitcoin Gold developers refused to pay.
This amount (which is about $263 000 under current exchange rate) should have covered the losses incurred but BTG holders following 51% attack in May.
The team provided explanations. on its website:
"We regret to inform our community that the crypto exchange Bittrex has decided to de-list BTG after we declined to pay them 12,372 BTG to remain listed."
"We suspect the impact Bittrex’s action on our Ecosystem will not be substantial, as Bittrex has not been a top liquidity provider for BTG in recent months (current top exchanges include HitBTC, Bithumb, Binance, Bitinka, and Bitfinex; Bittrex markets represent a small fraction of our volume at this time.)"
Delisting will take place on September 14.
The reaction of cryptocurrency community was muted as BTG/USD barely moved. From the short-term perspective, the coin is rangebound with mild downside bias; however, the growth may e resumed as long as it stays above $21,30-$21.00 area. The local resistance is created by SMA200 (1-hour) at $21.79, followed by $22.00
BTG/USD, 1-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.