Binance Completes Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV) Distribution
Binance Completes Distribution Of Bitcoin Cash ABC And, Bitcoin Cash SV
The much-discussed Bitcoin Cash hard fork is now complete and crypto exchanges that support the coin are set to open trading. Binance, one of the biggest crypto exchanges just announced the same in a blog post.
— Binance (@binance) November 16, 2018
The exchange finished the distribution of both BCHABC and BCHSV to the eligible users. The balances were distributed in the ratio of 1 BCC = 1 BCHABC and 1 BCC = 1 BCHSV. The balance was calculated based on the snapshot of all Bitcoin Cash (BCC) balances taken at 2018/11/15 4:40:00 PM (UTC).
Now, they will open trading for new pairs BCHABC/BTC, BCHABC/USDT, BCHSV/BTC, and BCHSV/USDT at 2018/11/16 8:00 AM (UTC). The blog post even added that the previous BCC balances have been removed from all user accounts.
When Binance thinks the blockchains and wallets are stable enough, they will open deposits and withdrawals too. Although, they haven’t yet mentioned a specific date.
Notably, currently, there are 3 types of BCC present on many users' accounts. Mostly, the old BCC will be removed soon, however, it's even tradeable now.
When questions arose on if Binance would be changing the symbols for each, CZ commented:
One thing about the fork, these symbol names will stay. Binance will not support changing of trading symbols later. If anyone asks for it later, let's refer them back to this tweet. https://t.co/j1h3gb4edQ
— CZ Binance (@cz_binance) November 16, 2018