Bitcoin Cash: Rise of the New Cryptocurrency Going Past $400 – End of Stagnation
Today, Bitcoin Cash went past the $400 point, after a state of inactivity in the market trend of the past several days.
As stated by the data from CoinMarketCap, the cryptocurrency (Bitcoin Cash) escalated as high as $406 today. The change of the cryptocurrency followed days of constant market shifting, with the price of Bitcoin Cash trading no more than a few dollars above or below the $300 level.
The largest Bitcoin Cash market by-volume is Bithumb, which accounts for roughly 30 percent of the global trade through its Korean won-Bitcoin Cash trading pair, CoinMarketCap figures show. The exchange reports more than $145 million in volume over the past 24 hours.
At the present time, Bitcoin Cash is trading at around $398 on Bithumb.
As previously reported by CoinDesk, Bitcoin Cash split off from the main Bitcoin blockchain earlier this month when a group of miners and developers moved to adopt software, with new network rules, that was unsuitable with the rest of the network. The result: bitcoin “forked” into two distinct blockchains with their own freely-traded digital assets.
Today’s upward price action comes just hours after bitcoin reached a new all-time high above $4,500.