Robinhood Delisting BSV Causes Price Drop of 5%

• Robinhood recently announced that it will delist Bitcoin SV (BSV) and cease trading it on 25 January.
• The market sentiment and the delisting announcement had an impact on the price of BSV, leading to a 5% decline.
• According to Santiment’s volume metric, there was a significant increase in the number of transactions, with $77 million being traded on 11 January.

The cryptocurrency Bitcoin Satoshi Vision (BSV) saw a 5% decline in its value on 11 January, likely due to the announcement from stock and cryptocurrency trading platform Robinhood that it would soon be delisting the token. Robinhood’s announcement highlighted that customers would no longer be able to trade, purchase, or otherwise deal with BSV as of 25 January, with any unsold tokens being sold and credited to customer accounts automatically.

Bitcoin SV, or “Satoshi’s Vision” as it is often referred to, is a hard fork of Bitcoin Cash and is known for its larger block size which leads to lower transaction costs. This sets it apart from other variants of Bitcoin, such as Bitcoin Cash. The news of the delisting from Robinhood caused a significant drop in the price of BSV and was seen as the likely cause for the downward trend in price.

In order to gain further insight into the decline, data analysis platform Santiment looked at the volume metric in more detail. This revealed that over $77 million was traded over a 24 hour period on 11 January, which was the highest number of transactions seen this year. This increase in volume was thought to be a result of the selling pressure as a response to the delisting announcement.

The current worth of 1, 10 and 100 BSVs can be evaluated by taking into account the current market value of the token. As of the time of writing, 1 BSV is worth $176.90, 10 BSVs are worth $1769, and 100 BSVs are worth $17,690.

Looking at the future, it is difficult to predict whether the downward trend in price of BSV will continue due to the uncertainty of the current market. Investors should proceed with caution and keep in mind that the delisting from Robinhood may have an impact on the price of the token.