The crypto community is highly interested in the cryptocurrency of Bitcoin Cash (BCH) as it has a scheduled hard fork on the 15th of November. It is with this pending event that the team at Poloniex and Circle, have announced that the trading platform will be offering customers the option to trade two tokens aligned to each of the communities with a different version of the software upgrade.
Poloniex will be offering the following two tokens:
- Bitcoin Cash ABC (BCHABC)
- Bitcoin Cash SV (BCHSV)
The team at Poloniex and Circle went to explain that they remain neutral in the matter and are offering the tokens in a bid to allow the community to decide which chain to support. The announcement went on to state the following:
We want to empower the community to demonstrate their support through trading activity. This is the first time we are offering pre-fork trading and it is part of a broader effort to make Poloniex one of the most innovative exchanges in the world. Going forward, we will evaluate each hard fork individually and decide whether to support the fork or to offer pre-fork trading.
The Pre-fork trading pairs that will be made available are as follows:
The exchange will also be supporting trading for both Bitcoin Cash ABC and Bitcoin Cash SV after the planned hard fork on November 15th.
Circle Acquired Poloniex
Back in February, Poloniex was acquired by Circle in a swift move that caught many crypto traders and enthusiasts by surprise. Circle paid an impressive $400 Million for the acquisition.
Hard Fork Support By Prominent Crypto Exchanges
Also ahead of the Bitcoin Cash Hard-fork, the exchanges of Binance, Coinbase and BitMex, have all expressed their intentions of supporting the event. Binance was the first to announce its support of the hard fork. The exchange did so on the 2nd of November after which the value of the digital asset went up considerably.
Two days later, Coinbase would also announce its support for the event. BitMex would then make its announcement on the 6th of November.
What are your thoughts on Poloniex offering the trading option of pre fork tokens? Will you participate? Please let us know in the comment section below.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Crypto Crimson or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.