BitConnect’s BCC token will soon be de-listed from Tradesatoshi’s crypto exchange platform. Tradesatoshi is a little-known exchange that has a daily trading volume of around $$1.16 million, out of which 78 percent is focussed on ATC/BTC pair. It is the last crypto exchange that still traded the BCC token.
The BCC token is about to become a dead coin due to a lack of liquidity. However, quite surprisingly, the token still has a market cap of around $6.6 million. Tradesatoshi announced its move via Twitter mentioning that the de-listing of the BCC token will take place on September 10.
Bitconnect, a well-known lending and investing cryptocurrency platform is widely considered to be a Ponzi scheme. The exchange saw a lot of investors pouring in millions of dollars into the Bitconnect’s BCC token. It promised extremely high returns.
After Bitconnect decided to shut down its crypto exchange and investing platform citing bad press, regulatory scrutiny, and distributed denial of service (DDoS), the exchange collapsed in January. This move was made by the exchange after it was hit with an emergency cease and desist from the Texas securities regulator.
The BCC token almost crashed immediately dropping over 90 percent of its value, after the exchange collapsed. It fell from an almost all-time-high of well over $400 to about $7, in January. Six disgruntled investors filed a class-action lawsuit against the exchange, as their losses amounted to $770,000. Another class-action lawsuit followed with a U.S. court freezing all its assets.
Although, Bitconnect’s BCC tokens’ 24-hour trading volume is non-existent now, around $10,000 worth of cryptocurrency was traded on the Tradesatoshi exchange on a daily basis, earlier this month. CCN reported that when more details about the crypto exchange came to light, the scheme netted over $3 billion for its Indian founders before collapsing.
The post Bitconnect’s BCC Token Will Be De-listed: Tradesatoshi appeared first on OWLT Market.
from OWLT Market https://ift.tt/2B3RVpL
via IFTTThttps://ift.tt/2OlCCL9
No comments:
Post a Comment