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Coinbase Wallet to End Support for Bitcoin Cash, Ethereum Classic, Ripple's XRP and Stellar's XLM
The company took note of "low usage" as its reason for no longer supporting those tokens.
Coinbase Wallet will no longer support the native tokens associated with Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple's XRP Ledger (XRP) and Stellar (XLM), effective Dec.5, according to an update on the crypto exchange's website.
The assets will no longer be supported on Dec. 5, although users with balances will be able to withdraw after that date with a recovery phrase.
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Coinbase cited "low usage" as a reason for delisting the four coins, all of which rose to sizable prominence in the 2017 cryptocurrency bull market.
XRP remains the seventh-largest cryptocurrency with a market cap of $19.6 billion and 24-hour trade volume of almost $1 billion across all exchanges, according to CoinGecko.
BCH and ETC – which are forked versions of the two most popular cryptocurrencies, bitcoin (BTC) and ether (ETH) – have both lost large portions of total cryptocurrency market share since being issued over five years ago.
Coinbase declined CoinDesk's request for comment.
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
