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Coinbase Wallet to End Support for Bitcoin Cash, Ethereum Classic, Ripple's XRP and Stellar's XLM

WikiBit 2022-11-30 13:42

Abstract:The company cited "low usage" as the reason for discontinuing support for those tokens.

  According to an update on the crypto exchange's website, Coinbase Wallet will no longer accept the native tokens associated with Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple's XRP Ledger (XRP), and Stellar (XLM) as of December 5.

  The assets will be decommissioned on December 5, although customers holding balances will be able to withdraw beyond that date using a recovery phrase.

  The four coins, all of which rose to popularity during the 2017 bitcoin bull market, were delisted by Coinbase due to “poor usage.”

  According to CoinGecko, XRP is the seventh-largest cryptocurrency, with a market cap of $19.6 billion and a 24-hour trade volume of about $1 billion across all exchanges.

  BCH and ETC, split versions of the two most prominent cryptocurrencies, bitcoin (BTC) and ether (ETH), have both lost significant market share since their introduction more than five years ago.

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