Coinbase Wallet Ends Support for Bitcoin Cash, XRP, Stellar Lumens and Ethereum Classic- Here’s Why

Coinbase, the largest cryptocurrency exchange in the United States, has delisted four cryptocurrencies: Ripple (XRP), Bitcoin Cash (BCH), Stellar Lumen (XLM), and Ethereum Classic (ETC). The delistings will take effect on December 5, 2022.

Coinbase cited low usage as the reason for the delistings. The company said that the four cryptocurrencies had seen a significant decline in trading volume in recent months.

The delistings have sparked some controversy. Some users have accused Coinbase of unfairly targeting smaller cryptocurrencies. Others have argued that the delistings will hurt the overall cryptocurrency market.

It is worth noting that Coinbase is not the only cryptocurrency exchange that has delisted coins. In recent months, several other exchanges have also delisted coins due to low usage.

The delistings are a sign of the growing maturity of the cryptocurrency market. As the market matures, exchanges are becoming more selective about the coins that they list. This is likely to continue in the future, as exchanges look to offer their users a more curated selection of coins.

It is also worth noting that the delistings do not necessarily mean that the four cryptocurrencies are dead. They may still be traded on other exchanges, and they may still have value for some users. However, the delistings are likely to make it more difficult for these coins to gain traction in the future.

The delistings of XRP, BCH, XLM, and ETC are a reminder that the cryptocurrency market is still volatile and unpredictable. Investors should be careful when investing in cryptocurrencies, and they should do their research before investing in any coin.