BitMEX will sell its bitcoin cash and distribute it in bitcoins to its users

One of the largest cryptocurrency trading platforms in the world, BitMEX, announced Wednesday that it was going to sell all Bitcoin Cash was recovered on August 1 for creditors on Bitcoin on behalf of its users .

BitMEX opposes forks

The platform, at the time of the announcement of Bitcoin Cash, did not warn the disputed ranges. The company does not allow the costs of such a hard fork to be allowed, and this also posed many security problems. Thus, none of the users could participate in the airdrop of Bitcoin Cash.

Seamless support for original Bitcoin

As we mentioned in a previous article, BitMEX also exists against the Segwit2X hard drive. She stated that she did not intend to support the addition of Bitcoin2x on a platform and that her customers would not benefit from the airdrop.

No distribution of Bitcoin Cash but ...

However, three months after the fork, Bitcoin Cash still exists, and its value is real. Thus, BitMeX announced to its users that the bitcoin of money acquired as a result of the hard fork converted into bitcoins and returned to users. In September, LocalBitcoins opened the door by crediting its clients' portfolios with bitcoins instead of cash bitcoins.

Futures contracts on Bitcoin Cash

BitMEX also announced that staff has added Bitcoin Cash futures to its derivatives catalog. This means that cryptocurrency users who claim to be the true vision of Satoshi Nakamoto.

An impact on the price of Bitcoin cash?

The massive sale of Cash BitMEX bitcoins could have a significant impact on the price, given the large volumes traded on their platform. With a daily trading volume that regularly stretches the billion dollar, the platform can strongly influence the price of bitcoin.
Other massive BCC sales planned

There are several other massive cash bitcoin sales on the horizon. Grayscale Investments recently announced its intention to sell the cash bitcoins held by its investment fund, Bitcoin Investment Trust, to redistribute them in the form of dividends to its clients. The fund currently holds more than $ 1 billion worth of cryptographic assets. It should also be noted that several other big players, notably Coinbase, have not yet redistributed cash bitcoins to their users.