Bitcoin Cash has just reached $10 Billion market cap

bcn (49)in #bitcoin • 7 years ago (edited)

Just created yesterday Bitcoin Cash (BCH) got 3rd place by market capitalization. The market at the moment seems bullish. Watch out that lots of exchanges are trading it, but deposits and withdrawals aren't available yet. ViaBTC enabled deposits but there are not enough confirmations yet and withdrawals will not work when exchanged to BTC. Bitfinex enabled only withdrawal of BCH.

Currently the prices on exchanges differs a lot:

ViaBTC: ฿0.209
Bittrex: ฿0.282
Kraken: ฿0.1821
Bitfinex: ฿0.164.

Even though exchanges credited their users with equivalent of BCH (note that Bitfinex did a weird math crediting less than expected), the volume isn't that much as most of BTC weren't on exchanges and BCH will still be deposited. As soon as withdrawals and deposits will work, the price could dip significantly, though it can still rise due to speculations.

Note that BCH circulation is the same as for BTC because it's expected that all bitcoin holders got the same amount of bitcoin cash, however not all of them will be able to claim it due to using unsupported exchanges (like Coinbase), not owning private keys (as using online wallets like blockchain.com) or simply due to the fact that lots of BTC was lost during the time of existence.

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