As the Bitcoin Cash hard fork approaches, several crypto exchanges are preparing to handle the upcoming upgrade. The next Bitcoin Cash upgrade is expected on the 15th of November.
According to a CryptoBriefing report, a minimum of five crypto exchanges has declared support for both coins if Bitcoin Cash splits into two. Specifically, CryptoBriefing mentioned that Binance, FTX, Gate.io, OKEX, and Huobi Global support the upcoming fork.
As stated in the report, Binance believes that there would be a “chain-split between the two main BCH clients.” Likewise, Houbi Global announced that the exchange “will support the planned hard fork of BCH (Bitcoin Cash).”
To support the upgrade, Huobi Global further said that the exchange would suspend all BCH Exchange trading pairs on the platform. The crypto exchange revealed its other plans to reduce potential trading risks during the fork.
In contrast, hardware wallet manufacturer Trezor said it would only choose and support one coin. In an announcement, Trezor said:
“As is the case with any blockchain hard fork, the decision of which network will be supported is based on consensus by the community and is largely.”
Trezor said it would support any chain the community chooses, but it may take time to reach a consensus.
A chart in the CryptoBriefing report showed that 75% of Bitcoin Cash blocks have indicated support for Bitcoin Cash. Also, just a percentage signaled for Bitcoin Cash ABC.
The chart also revealed that about 23.3% had not signaled support for either Bitcoin Cash or Bitcoin Cash ABC.