Coinbase wallet drops support for XRP, Bitcoin Cash, Ethereum Classic and XLM

admin November 29, 2022

0 1 minute read

coinbase wallet announced Ripple announced on November 29 that it will end support for XRP, Bitcoin Cash (BCH), Ethereum Classic (ETC), and Stellar (XLM) on December 5.

The exchange said it made this decision due to the low utilization of its four blockchain networks.

Coinbase said its decision does not mean that users’ assets will be lost. Instead, the unsupported assets will still be tied to the user’s address and accessible through the coinbase wallet recovery phrase.

Four networks made headlines during the crypto market bull market in 2017. According to CryptoSlate data, Ripple’s XRP is the 7th largest digital asset by market capitalization.

Stellar XLM was founded by Ripple co-founder Jed McCaleb. With a market capitalization of $2.26 billion, he is the 25th largest crypto asset.

Meanwhile, the last two blockchain networks are forks of two major digital assets in the industry.

This announcement did not adversely affect the price performance of these network tokens.

Journalist at CryptoSlate

Oluwapelumi believes in the transformative power of Bitcoin and the blockchain industry.

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