**Bitcoin SV (BSV) Price Sees Decline After Coinbase Delisting**

Bitcoin SV (BSV), a derivative of Bitcoin, has come under the spotlight as the prominent American cryptocurrency exchange Coinbase has announced its decision to cease its support for the asset. In the wake of this announcement, the price of BSV has experienced a downturn, dropping by more than 5% within the last 24 hours.

**Coinbase’s Decision to Cease Support for Bitcoin SV**

On February 3, Coinbase revealed through an X post that it had officially removed support for BSV from its platform. This declaration follows a prior statement made in December when the exchange initially expressed its intent to delist BSV. According to Coinbase, any BSV remaining in customers’ wallets has been liquidated and replaced with the equivalent market value of another digital asset. However, some wallets may not receive any compensation assets due to associated transaction costs incurred during the process.

As of now, Coinbase has not disclosed an official reason for its decision to delist BSV from its offerings. It’s worth noting that Bitcoin SV has been a subject of controversy since its inception in 2018. The BSV blockchain network has been targeted by multiple 51% attacks in the past due to its “centralized” structure, raising concerns among many exchanges. Aside from Coinbase, other leading exchanges that have delisted BSV include Binance, Kraken, Bittrex, and Robinhood. Furthermore, the token’s founder, Craig Wright, has faced criticism for claiming to be the anonymous creator of Bitcoin, Satoshi Nakamoto. Wright’s attempt to obtain the Bitcoin copyright in 2022 and block the operations of the Bitcoin network and Bitcoin Cash was dismissed by the court due to substantial evidence against the plaintiff.

**Bitcoin SV Price Snapshot**

As of the latest data, BSV is trading at $72.65, reflecting a 5.61% decline over the past day but a 0.10% gain over the weekly chart. Despite ending 2023 with a remarkable surge of almost 110% in the final week of the year, the Bitcoin hardfork has seen a decrease of 15.20% over the last 30 days. Furthermore, the token’s daily trading volume has experienced a modest increase of 7.54%, reaching $90.39 million. With a total market cap of $1.43 billion, Bitcoin SV stands as the 52nd largest cryptocurrency globally.

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**FAQ**

**Q: Why did Coinbase decide to delist Bitcoin SV (BSV)?**
A: Coinbase has not officially disclosed the specific reasons behind the delisting of Bitcoin SV (BSV). However, the cryptocurrency has been marred by controversy and security concerns since its inception, which might have contributed to exchanges’ decisions to remove support for BSV.

**Q: What has led to the decline in Bitcoin SV’s price following the Coinbase delisting?**
A: The delisting announcement by Coinbase likely led to a loss of confidence in the asset, triggering a decline in its price as investors reacted to the news.

**Q: Are there any other major exchanges besides Coinbase that have delisted Bitcoin SV?**
A: Yes, apart from Coinbase, other prominent exchanges such as Binance, Kraken, Bittrex, and Robinhood have also delisted Bitcoin SV due to various reasons, including security concerns and controversies surrounding the token.

**Q: Who is Craig Wright and why has he faced criticism in the cryptocurrency community?**
A: Craig Wright is the founder of Bitcoin SV and has claimed to be the anonymous inventor of Bitcoin, Satoshi Nakamoto. However, his claims have been met with skepticism and criticism within the cryptocurrency community.

**Q: What is the current price of Bitcoin SV and its market cap?**
A: As of the latest data, Bitcoin SV (BSV) is trading at $72.65 with a market cap of $1.43 billion, positioning it as the 52nd largest cryptocurrency in the world.

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