Coinfloor, trusted UK spot exchange, delists Ethereum starting 2020

Coinfloor claims to be “the UKs longest established Bitcoin and cryptocurrency exchange,” but starting next year, they will be delisting Ethereum. In a press release today, they mentioned how bitcoin’s track record was incompatible and they were excited to simplify their services.

“The decision will allow Coinfloor to provide a richer set of services for the world’s leading cryptocurrency while maintaining focus on simplicity.” – Coinfloor

The exchange has good liquidity for over the counter purchases, specialized corporate accounts and offline storage. If you could compare it to anything in the US, it would be like Coinbase or Gemini, but clearly with less crypto options. Any average person can sign up for Coinfloor, but the exchange’s services are clearly meant to draw big investors in, or people who value security.

Within the context of institutional grade crypto investments, it’s not very surprising that they would cut off Ethereum. For instance, Bakkt is the most reputable crypto futures exchange in the US and they only service Bitcoin. Still, for Ethereum fans this is just another let down after a long year of their token lacking performance.

Bitcoin and Ethereum increased similarly in value during the 2019 bull market, but Bitcoin make it much closer to its all time high. Ethereum’s high was around $1400 and in 2019 reached around $300, where as Bitcoin’s high was $20,000 and it rose back to $1,400. Subjectively speaking, Bitcoin’s price action has much more energy. When Bitcoin’s price decreases, it still sees huge corrections back up where as Ethereum experiences consistent deflation.