Bitfinex has listed SegWit2x chain split tokens

In order to speculate the outcome of a proposed hard fork that may happen in November in a bitcoin network, Bitcoin Exchange Bitfinex has listed SegWit2x chain split tokens.

According to an announcement, through depositing BTC into the token manager, traders can create chain split tokens. Namely, as BT1 for the original chain and BT2 for the SegWit2x Chain.

The announcement says,

“Upon creation, the BTC will be debited from your account and an equivalent amount of BT1 and BT2 will be credited. Users will also be able to reverse this process at any time. Trading in equal numbers of BT1 and BT2 to extract BTC”.

Bitfinex Crypto exchange is likely to finance if there is a sufficient liquidity. Since it allows traders play on what chain seems to be successful as following the fork.

BT1 and BT2 tokens

Though, BT1 and BT2 tokens will trade against both USD and BTC pairs. It is a strategic plan if the fork happens then this bitcoin exchange will convert the BT1 tokens into BTC and BT2 tokens into B2X. However, if the fork doesn’t appear by December 31, the contract period will expire. However, BT2 token shall destroy but there can still be a conversion of BT1 tokens into BTC.

The announcement of adding chain split tokens has previously occurred in March and this time it was positive “I love it!.,”. This citing in a tweet by Spencer Bogart who is a blockchain capital head of research. However, he is also expressing attentiveness towards the effective conclusion on post fork prices of BTC and B2X

“a lot of volumes to draw any meaningful conclusions”

Market predictions

Even if volume remains low, traders and analysts are predicting market can come up with a meaningful evaluation. However, viaBTC’sbitcoin cash futures market is in consideration which is been traded effectively with a post-fork value of BCH despite limited liquidity.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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