Why This Bitcoin Offshoot Is Down 6% Even As Apex Crypto, Ethereum Are Shooting Up

Bitcoin SV (CRYPTO: BSV) tumbled early on Thursday even as major coins such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) clocked significant gains. 

What Happened: The drop in price comes after Robinhood (NASDAQ: HOOD) said support for BSV would be discontinued. Users can continue to purchase, sell, send, and hold BSV until Jan 25. Any BSV left in a Robinhood crypto account after the deadline will be sold at market value.

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At the time of writing, BSV was down 6% in the last 24 hours, trading at $41.

Robinhood's decision was based on a detailed review of the available cryptocurrencies, according to an email seen by CoinDesk, although specifics were not disclosed.

BSV was created in 2018 by Craig Wright, a computer scientist who claims to be Satoshi Nakomoto, the pseudonymous creator of Bitcoin. BSV was built from a hard fork applied to the Bitcoin Cash blockchain, which came from the original Bitcoin blockchain. 

Price Action: BTC was trading at $18,223, up 4.64%. ETH at $1,398, up 5.11% in the last 24 hours, according to Benzinga Pro.

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