Crypto trading
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- OKX has announced that it is delisting five coins, including BSV
- The exchange has supported BSV for almost six years, but has finally cut ties
- While BSV supporters cry conspiracy, wiser heads have pointed to financial considerations
The already beleaguered BSV protocol has had another nail hammered into its coffin after OKX, one of the few popular exchanges still facilitating the coins, announced it is to delist it alongside four others. The exchange, which carries the third-highest trading volume for the coins, didn’t state why it is kicking the Bitcoin fork off the platform, but explanations have ranged from the cost of running a node to a conspiracy against the project. The move led to a 25% drop in the price of BSV, taking it even further away from the promised land that many of its holders consistently believe is a matter of months away.
Crypto trading Six Years And Out for OKX
BSV was created in 2018 when Bitcoin Cash, a Bitcoin fork, itself forked, with ‘Faketoshi’ Craig Wright claiming that it is the only blockchain that adheres to the original Bitcoin code and standards. However, with no progress being made towards anything like the mass adoption Wright boasted about for years, BSV has stagnated, while the costs of maintaining the coin have increased for exchanges.
BSV was delisted by a raft of popular exchanges in 2019 following Wright’s failed libel crusade, and the trend hasn’t stopped; BSV has been delisted by all but a handful of exchanges in the top 50, resulting in a 24-hour trading volume just 0.48% that of Bitcoin, which it was by now supposed to have eclipsed.
Critics of Wright and BSV have been saying for months that it was only a matter of time before OKX ditched the coin, given the paltry revenue it generates, and it did so yesterday, saying that the coin will be supported until July 7. No reason was given, but OKX explained that coins were constantly monitored in order to “maintain a robust spot trading environment.” BSV supporters, famed for their conspiracy-theory nature, quickly jumped to conclusions of a nefarious nature:
Another attack on BSV. OKX delists BSV.https://t.co/CrWwj4dePr pic.twitter.com/WAbkz4dcug
— Bitcrash (@Bitcrash4) April 26, 2025
I have just closed my oKX account for attacking BSV. Sending all my fund to HTC and has just loaded more #BSV
— A True ECN Broker for Forex Trading (@TrueECNBroker) June 30, 2025
These conspiracy theories neatly ignored the fact that OKX has been supporting BSV for six years longer than the likes of Binance, Kraken and Coinbase and so can hardly be accused of attacking the coin. Also, BSV is one of five coins scheduled for the chopping block at the same time, so it’s hardly the only one being picked on.
Crypto trading Costs Likely Behind Decision
More rational heads have opined that OKX may have finally realised that the fees generated by BSV trading weren’t enough to support the coin. BSV’s massive block sizes require significant storage, bandwidth, and maintenance, creating operational burdens that few coins impose, an infrastructure strain that becomes harder to justify if user demand and trading volume are low, as they are with BSV. Combined with BSV’s history of contentious hard forks and ecosystem instability, exchanges like OKX may see continued support as a technical liability with little financial upside.
But all these rational arguments are bound to go out the window when the people doing the arguing still believe that Craig Wright is Satoshi Nakamoto.
