Bitcoin Cash has surged over 15% in the past day in the anticipation of the upcoming hard fork scheduled on November 15th.
The Bitcoin Cash Network will split into two different chains due to a difference in consensus between Craig Wright’s Bitcoin SV client and Jihan Wu’s Bitcoin ABC Client.
Major exchanges like Coinbase and Binance have announced support for the hard fork. Other exchanges are likely to follow.
Binance wrote in their blog:
“Binance would like to confirm support for the upcoming Bitcoin Cash hard fork. We will take a snapshot of all Bitcoin Cash balances at UNIX time 1542300000, 2018/11/15 4:40:00 PM (UTC).”
BCH rose from $430 to a high of $536 in a matter of two days after these exchanges started announcing their support for the upcoming hard fork.
Image Source: Coinmarketcap
The volume has grown from a mere $200-300 Million to over $970 Million in the last couple of days. The increase is likely because of the buy volumes and the coins being moved around in the exchanges in anticipation of the newly forked tokens.
Many of the traders are fixing their position on BCH solely due to the fork as they will get the new forked tokens. As more and more exchanges and wallets start offering support of the new tokens the activity will likely rise in the coming days.
A majority of volume comes from OKEx, DigiFinex and Binance. A majority of BCH activities are going on in Asia, the west is yet to catch up on the developments.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
In the rapidly evolving landscape of web-native payments it has become clear that new infrastructures…
A New Era for Global Trade: Alibaba Taps JPMorgan's Blockchain Global commerce has long been…
The Promise of Web3 Meets a Centralized Reality Web3 was built on a revolutionary promise:…
Bitcoin's Sudden Plunge Shakes the Crypto Market The cryptocurrency market is awash in red after…
Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…
As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…