Coinbase wallet drops support for XRP, Bitcoin Cash, Ethereum Classic and XLM Coinbase wallet drops support for XRP, Bitcoin Cash, Ethereum Classic and XLM
Coinbase Wallet is stopping support for Ripple's XRP, Bitcoin Cash (BCH), Ethereum Classic (ETC), and Stellar (XLM).
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Updated: Nov. 29, 2022 at 11:14 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Coinbase Wallet announced Nov. 29 that it would stop supporting Ripple’s XRP, Bitcoin Cash (BCH), Ethereum Classic (ETC), and Stellar (XLM) on December 5.
According to the exchange, it made this decision because the four blockchain networks have seen low usage.
Coinbase said its decision does not mean users’ assets would be lost; instead, unsupported assets would still be tied to users’ addresses and accessible through their Coinbase Wallet recovery phrase.
The four networks rose to prominence in the 2017 crypto market bull run. According to CryptoSlate data, Ripple’s XRP is the seventh-largest digital asset by market cap.
Stellar XLM was founded by Jed McCaleb who co-founded Ripple. It is the 25th largest crypto asset with a market cap of $2.26 billion.
Meanwhile, the last two blockchain networks are forks of the two main digital assets in the industry.
The announcement has had no negative impact on the price performance of these network tokens.
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Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Theย XRP Ledgerย is a decentralized cryptographic ledger powered by a network of peer-to-peer servers.
Bitcoin Cash
$530.762
Bitcoin Cash (BCH) is a cryptocurrency created via a fork of the Bitcoin network.
Ethereum Classic
$31.8980
Ethereum Classic (ETC) is a continuation of the original Ethereum blockchain – the classic version preserving untampered history prior to the July 2016 DAO hack..
Stellar
$0.50410
Stellar is a multi-currency payment backend that tens of thousands of people use every day.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Ripple
Ripple is a US-based technology company which develops the Ripple payment protocol and exchange network using XRP, the digital asset native to the XRP Ledger.
