BTCB2, a cryptocurrency from a minority blockchain fork that split in August, has begun trading on Neoxa Exchange under the ticker BTCB2. The token initially appeared on the exchange at approximately $80 per coin but has experienced significant price swings, reaching as high as $176 on September 2.
The market for BTCB2 shows signs of extreme illiquidity. Trading volume reached roughly $94,100 in 24-hour BTCB2/USDC trades on Neoxa, with an additional $19,300 logged in BTCB2/BTC markets. However, order books on the exchange remain thin, with bids and asks remaining static for extended periods, suggesting limited genuine market activity.
Concerns about Neoxa Exchange's legitimacy have surfaced across social media platforms. Users on Reddit characterized the platform as untrustworthy, with one user calling it a scam. BitcoinBIP110.org, a website supporting the BIP-110 fork, published a public service announcement cautioning users to exercise caution with Neoxa Exchange, describing it as a high-risk, unverified custodial exchange. The announcement urged influencers to stop amplifying prices from unverified exchanges.
A Neoxa Exchange representative named Andy indicated on Discord that the platform may delist BTCB2 due to negative community feedback. The representative denied claims from a Reddit user who reported losing funds on the platform and requested that the user open a support ticket.
Market observers have noted that the wide bid-ask spreads and low trading volume make current BTCB2 prices unreliable indicators of actual valuation.
