Bitfinex announced today that it will join Poloniex and start offering pre-fork trading of Bitcoin Cash tokens “to prevent any risk of manipulation and hence to maintain a healthy market”. In the blog post, Bitfinex said that “in the last days it has been more evident that the fork will likely result in two different chains, Bitcoin Cash ABC and Bitcoin Cash SV.” The company said that the BCH markets experienced a significant increase of Margin Short positions in quantity and size. The Block pointed out Monday that lending rate of Bitcoin Cash on Bitfinex reached maximums over the weekend.
Bitfinex has already launched the trading of both pre-fork tokens against USD and BTC while margin and leverage will be unavailable. All the outstanding positions including margin positions will be converted to currency balances. Margin funding will be canceled and borrowers will need to restore their account to positive wallet balances before 31 December 2018 “or risk having the system do it for them”. At press time, Bitcoin Cash ABC is trading for $449 and Bitcoin Cash SV for $114 with very low volumes. (Source: Bitfinex)
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Bitfinex joins Poloniex to offer trading of pre-fork Bitcoin Cash tokens written by Larry Cermak @ https://www.theblockcrypto.com/tiny/bitfinex-joins-poloniex-to-offer-trading-of-pre-fork-bitcoin-cash-tokens/ November 13, 2018 Larry Cermak