Huobi and OKCoin Start Trading Bitcoin Cash, Coinbase Keeps Taking Flak

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Two of China’s biggest bitcoin exchanges, OKCoin and Huobi, will open Bitcoin Cash trading today according to a statement. Huobi said:

“Bitcoin Cash has become the top three digital assert in the world and its trading volume is great. Besides, both mainstream international and national trading platforms support BCC. Given this, Huobi will launch BCC/CNY on 17:30, August 22, 2017 (GMT +8).”

While OKCoin told their Chinese customers that “after technical verification and comprehensive testing, OKCoin is scheduled to officially open Bitcoin Cash (BCC) trading on August 22, 18:00,” according to a rough translation.

Huobi’s statement on Bitcoin Cash trading.

The announcement is made shortly after Bitcoin Cash’s trading volumes reached a high of $4.4 billion in a 24 hour period. The highest ever achieved by any digital currency.

Its price has significantly risen too with the chain becoming more profitable to mine than Bitcoin Core for the past few days, leading to many miners moving their hashrate.

One of them is Antpool, whose founder – Jihan Wu – publicly told Brian Armstrong, Coinbase’s CEO, in a manner that appears not too serious that:

“Right now BCC price is manipulated by Chinese. Trust me, if coinbase open a market place for BCC, the price of BCC will collapse.”

Coinbase stands out as the only prominent bitcoin exchange to have not yet distributed Bitcoin Cash to the bitcoin holders on their platform.

The reason for the delay is not clear, with speculation suggesting they might be planning to list it for trading at the same time as they distribute Bitcoin Cash so as to keep their customers within their platform.

However, what they have publicly said is that they will start distributing BCC/BCH next year while stating they are not sure whether they will list it.

Regulatory hurdles may be playing a role, but Bitstamp, which is also regulated, has distributed their Bitcoin Cash as far as we are aware, while not listing the currency for trading, with the exchange very slow in movement, so listing eth only this month.

But, in this case they can at least brag they are faster than Coinbase, which was quick to add ETH and distributed the ETC, yet for some reason needs months for Bitcoin Cash.

 

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Khurram Javed

Why is Jihan Wu stating false assumptions about BCH? It’s a stupid assumption that’s it’s price may move down if coinbase lists because all coins listed on coinbase move up in value.