Whales get rid of Bitcoin Cash amid rising asset prices
After growing 39% at the end of August, at least 10 whales have left the Bitcoin Cash network
The seller’s pressure on Bitcoin Cash is increasing markedly, and the decline in the number of whales is exacerbating this trend
BCH community is committed to changing the algorithm as part of the network upgrade
International consortium of news organizations developing transparency standards.
The number of investors holding at least $ 3M in Bitcoin Cash has dropped by 10 since early August after the coin surpassed $ 311.
After growing 39% at the end of August, at least 10 whales have left the Bitcoin Cash network, which may be selling their assets worth millions of dollars.
According to the analytical portal Santiment, the number of investors on whose accounts the amount of Bitcoin Cash ranges from 10,000 to 100,000 coins ($ 3-30 million) has decreased by 10 people since August 1. This fall was recorded after a 38.7% rise in digital assets, from $ 224.46 to a high of $ 311.34 recorded on July 31.
Selling pressure on Bitcoin Cash is getting stronger, and a 5.6% decline in the number of whales only exacerbates this trend..
BCH remains the fifth largest cryptocurrency by market cap at $ 5.6 million. It is followed by Chainlink (LINK), which has a capitalization of $ 4.6 million. By the way, just yesterday LINK overtook Bitcoin in terms of trading volume on the Coinbase platform. BCH is trading at $ 305.43 at the time of writing, up almost 3% in the last 24 hours.
Bitcoin Cash uses the SHA256D algorithm, just like Bitcoin. However, the hashing power is less than 5% of the power in the case of BTC, which makes the network vulnerable to 51% attack..
Against this backdrop, the BCH community is committed to an algorithm change as part of a network update due in November. The developers have already come to a compromise on two proposed solutions to this problem, which can increase the attractiveness of the BCH coin itself..
All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..
Roger Ver hints at a rift within Bitcoin Cash CONTENTS According to Roger Ver, Bitcoin Cash Developers Behave Like Bitcoin Maximalists….
Bitcoin Association publishes first Bitcoin SV technical standard CONTENTS New Bitcoin SV technical standard is up for public comment…
Bitcoin sales brought Square $ 875 million CONTENTS Square earned $ 875 million in Bitcoin sales through Cash App Growth in…
Ethereum Classic hit 51% for the second time in a week CONTENT ETC network hit 51% for the second time in five days…
Grayscale’s assets exceed $ 5.5 billion CONTENT The investment company Grayscale now has over $ 5.5 billion…