This come after the Bitcoin Cash hard fork as the team decided to split the existing Bitcoin Cash into two tokens: Bitcoin Cash ABC and Bitcoin Cash SV. Roger Ver and his team put their weight behind the ABC implementation of the Bitcoin Cash hard fork and Bitcoin Cash SV was led by Craig Wright.
According to the official statement posted on the blog, the sixth largest crypto exchange will be changing the ticker of Bitcoin Cash ABC from BCHABC to BCH and will also be changing the Bitcoin Cash SV ticker from BCHSV to BSV. The change in ticker will be taking place at 5 a.m. UTC+1 on December 13.
During that time, spot trading of both BCHSV and BCHABC will remain suspended. “All remaining balance of the original BCH will be settled, and the asset will be removed from your account. The spot trading services of BCH and BSV are expected to resume at 07:00 Dec 13, 2018 (CET, UTC +1),” blog mentioned.
OKEx is not the only exchange to have taken the step, Bitcoin Cash ABC earned the original BCH ticker on other major crypto exchanges as well. The Gemini crypto exchange announced on December 8 and that it will “only be providing support for the Bitcoin ABC network” and it will be identified on the platform as BCH.
San Francisco-based exchange, Coinbase, also made a similar decision in late October. At that time, the exchange also stated that it would “continue to evaluate the safety of the BCH SV chain.” Coinbase also added why it took the side of the ABC camp stating that it is due to “a number of factors including the fact that ABC has a higher hashrate and a longer proof-of-work (PoW) chain.”