Price of Bitcoin Cash ABC Exceeds Bitcoin Cash SV by Almost 400% on Poloniex

The fork proposal known as “Satoshi’s Vision” may have more hash power according to stats published by Craig Wright in his twitter account, but it seems that in the markets it remains highly unpopular.

After Poloniex enabled BCH ABC and BCH SV futures last November 7, before the BCH fork planned for November 15, ABC’s buying preference exceeds SV by just over 372%.

Bitcoin Cash ABC is traded on Poloniex at 0.066 BTC, while Bitcoin Cash SV had a price of 0.017 BTC, resulting in a clearly favorable position for BCHABC. These valuations correspond to 425 USD and 110 USD respectively, according to Poloniex, while Bitcoin Cash (the main unforked altcoin) has experienced a bearish trend which puts its value at approximately 0.083 BTC at the time of writing.

courtesy: coinmarketcap

The predominance of BCHABC has been detrimental, especially after Mr. Wright’s aggressive campaign who has spared no effort or resources to demonstrate the superiority of his proposal without regard to what is apparently the community’s opinion.

courtesy: coinmarketcap

The BCHSV campaign has gone to such extremes that pools are threatening to damage the stability of other forks by mining empty blocks to force users to migrate to Bitcoin Cash SV so as not to lose the value of their tokens.

 

Poloniex’s decision to open a market for assets that do not yet exist is innovative and sets a precedent in the market because even at this point many are not sure what will actually happen after November 15th.

With this decision announced in an official press release, Poloniex seeks to promote more neutral trading of both tokens before the fork, however, during the fork, the trading of these tokens will be paused until the market stabilizes:

“We believe the responsible thing for an exchange to do is remain neutral, and we want to empower the community to demonstrate their support through trading activity. Therefore, starting on November 7th, 2018, Poloniex is offering customers the option to trade two tokens at the center of the debate about the pending Bitcoin Cash (BCH) hard fork: Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV), before the November 15 fork.

Pre-fork trading is available immediately for the following pairs: BCHSV/USDC, BCHABC/USDC, BCHSV/BTC, and BCHABC/BTC. We are also opening up a BCH/USDC market. Customers can convert Bitcoin Cash into equivalent amounts of BCHABC and BCHSV, and also convert SV and ABC back into BCH if they’d like to withdraw funds. Customers can trade immediately, but won’t be able to withdraw BCHABC and BCHSV ahead of the hard fork …

On November 15, 2018, we will pause BCH deposits and withdrawals at 14:00 UTC. At 15:00 UTC, we will freeze the BCH, BCHABC, and BCHSV markets, cancel all outstanding orders, and take a snapshot. Users who still hold BCH at this time will immediately receive an equivalent amount of BCHABC and BCHSV. We will then disable the BCH market (as all balances will be zero).”

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