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), starting Dec.5, citing “low usage” as its reason for no longer supporting those tokens.
According to a Nov. 29 notice on the crypto exchange’s website, Coinbase said its wallet will no longer support Bitcoin Cash (BCH), XRP (XRP), Ethereum Classic (ETC), and Stellar (XLM) since Dec. 5. However, users with balances will be able to withdraw after that date with a recovery phrase. 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.
“This does not mean your assets will be lost,” said the crypto exchange’s announcement. “Any unsupported asset that you hold will still be tied to your address(es) and accessible through your Coinbase Wallet recovery phrase.”
According to data from CoinGecko, XRP remains the seventh-largest cryptocurrency, with a market cap of $19.6 billion and a 24-hour trade volume of almost $1 billion across all exchanges. BCH and ETC – forked versions of the two most popular cryptocurrencies, Bitcoin (BTC) and Ether (ETH) – have lost large portions of the total cryptocurrency market share since being issued over five years ago.