Ever since its launch in April 2020, Binance Pool has been working on mining Bitcoin SV (BSV) and is now responsible for 26.39% of the entire BSV blocks mined. A year after the exchange removed Bitcoin SV from its offering, we can see that it is now the leading BSV miner, producing more blocks than anyone else.
The reports in the Binance news were submitted by the crypto statistics and services platform Coin Dance, where we can see that Binance Pool is the largest miner of Bitcoin Satoshi Vision (BSV) blocks as of June 16. While Binance Pool is responsible for 26.39% of all BSV transactions, Huobi’s mining arm is ranked second with 13.19%, accordingly.
What is also interesting is the fact that Binance delisted and ceased trading of all trading pairs for BSV in April 2019. The cryptocurrency exchange explained that it regularly ensured all the cryptocurrencies listed on its platform and said that they “meet a high level of standard” and the decision to remove BSV “best protects all of [its] users”.
However, the delisting in the Bitcoin SV news came as the CEO of the leading exchange, Changpeng Zhao, expressed outage at the Satoshi claimant Craig Wright for issuing a $5,000 bounty for doxxing Hodlnaut which is the Twitter user behind the Lighting Torch initiative.
Zhao tweeted “Craig Wright is not Satoshi. Anymore of this sh!t, we delist!” A few days later, Binance made the announcement that it would no longer offer trading of BSV. And while some members of Crypto Twitter did not realize that Binance Pool is the largest BSV miner, they also specualted that mining the altcoin may be a prelude to relisting the token on Binance.
> delists bsv
> starts mining bsv
> relists bsv https://t.co/gVZGiZmmM3
— 3 ✪ (@nondualrandy) June 10, 2020
Other Twitter users reacted as well. One of them was AzhellTom, who told his followers that he has spoken directly to CZ who previously explained that “other people [are] using their pool to mine BSV.” Still, this could mean that Binance is profiting from pool fees around 2.5% from BSV mining.
Meanwhile, the price of Bitcoin SV (BSV) is trading at $175.86 in the news today with a minimal increase of below 1%. However, the coin is now more stable and could initiate a reversal and visit its earlier June highs.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]