The delisting of the second capitalized virtual currency, Ethereum, from the virtual currency exchange Paxful has divided the virtual currency community into two groups. Some supported the conclusion, some expressed opposition, and the editors of BeInCrypto have summarized the reactions of virtual currency investors to the delisting of ETH in one summary.
On December 21, 2022, Paxful CEO Ray Yousef informed the platform’s purchasers via email newsletter about his plan to delist the Ethereum cryptocurrency on December 22 at 3:00 PM (MSC).
For example, on his microblog, Ray Yousef responded to the conclusion of the call with a question about who would be next, which could indicate a possible delisting of ETH from other virtual currency exchanges.
Screenshot of Ray Yousef’s call to users
Among the reasons for the delisting of Ethereum, cryptocurrency exchange executives highlighted the right ones.
Negative impact on the coin due to the replacement of the PoW to PoS method in September 2022.According to Ray Yousef, PoS- Ethereum is similar to the digital form of classical funds.
Highly centralized; Ray Yousef believes ETH is under the control of a small group of plan administrators.
Significant power of fraud projects in the Ethereum ecosystem.
Ray Yousef appealed to Paxful users, believing that only Bitcoin can “free billions of people” from the negative effects of the current economic system. In that case, the ETH stack coin would remain listed on the platform, regardless of the hostility of cryptocurrency managers toward the coin.
Response from the Crypto Community
Paxful users and the cryptocurrency community were expected to split into two camps. The first group of supporters supported the delisting of Ethereum and its transition to Bitcoin; the second group, the viseurs, criticized the conclusions of the trading platform’s executives.
Users argued that the delisting of Paxful by Ethereum could have a negative impact on the virtual currency exchange itself. For example, because such a move would force supporters of the ETH society away, Ray Yousef’s subscribers also objected that his own conclusion deprived them of one of the opportunities they needed to diversify their investment backpacks.
Many online users believe that sooner or later Paxful will have to put more well-known virtual currencies back on the list than the virtual currency exchanges themselves. Some commentators have pointed out that Ray Yousef’s logic requires that all PoS coins be removed from the trading platform.
Paxful’s CEO previously called on members of the virtual currency community to refrain from storing their virtual currency on centralized exchanges. Not all totals can be loaded RepeatPaxful tried…