The Bitcoin cash markets recover, while Infrastructure support increases.
The Bitcoin Cash (BCH) markets have been suffering from the bearish sentiment that hit cryptocurrencies across the board last week. On February 6, the price of the BCH reached a minimum of $ 740 per coin, but since then it has bounced back to the region of $ 950-1,050 in Bitstamp on Tuesday afternoon.
The Bitcoin cash markets are beginning to see recovery ahead this week, these bitcoin cash markets received a blow as BCH had lost approximately $ 588 (-39%) in value in the last seven days. At this time, the price has recovered and is slowly advancing right between the $ 950-1,050 zone after bouncing during much of Wednesday's trading sessions. The commercial volume of the BCH has been averaging approximately $ 650 million to $ 1 billion during the past week. The exchanges that most change the most bitcoin cash today include Okex, Bitfinex, Hitbtc, GDAX and Huobi. Currently, the major currencies traded with bitcoin cash include BTC (57%), USD (21%), tether (USDT 11%), the Korean won (4%) and the euro (2%).
New features of Localbitcoincash, integration of Openbazaar and a Bitcoin cash SMS application; Even though the markets were down last week, the bitcoin cash community received a lot of infrastructure support and new applications, for example, everyone in the BCH community is talking about a new application called Cointext that aims to create the ability to send bitcoin cash through text messages (SMS). According to the creators, all texts are chain transactions like the Chaintip tip platform. However, given that the platform is so new, some supporters of BCH are skeptical that this project is safe when used through text messages.
The Localbitcoincash exchange announced that it had added skycoin and smartcash services to the platform. The implementation does not offer rates for this type of operations, explain the exchange developers. "No rate change is exactly what it is, it's totally free, and you can continue to exchange the different cryptocurrencies admitted by our platform, and there are no marketing costs involved," reveals Localbitcoincash on February 7.
Recently, the emerging cryptocurrency market included Openbazaar, which integrated bitcoin cash and zcash in the latest version 2.1.0.
"This launch is the first step to allow more cryptocurrency options in Openbazaar: it includes native support for nodes that use a cryptocurrency at a time, bitcoin, bitcoin cash or zcash", explain the Openbazaar developers.
The AcceptBitcoin.Cash website that has added a section for bearer adults is another addition to the BCH infrastructure. The website developers believe that there is a demand for adult merchants to start accepting bitcoin cash. In addition, the team said it has seen more than 70 presentations since it implemented an application form, and the team added almost all merchants to the site in less than three weeks of use.
Supporters of BCH remain optimistic, as it was known in other news that this week a bitcoin cash token was created false in the Omni chain of layers. According to reports, the ability of the Omni chain to generate asset tokens was used to create a deceptive BCH token. BCH supporters think that the token was created to cause confusion by adding to the growing list of fraudulent snapshot holders that have emerged in recent months.
In general, the BCH community is in a very good mood, even in the last weeks of the bearish market sentiment. The protocol continues to receive support almost every day of exchanges, wallets and merchants. The Bitcoin cash markets are also starting to gain strength again along with the rest of the cryptocurrencies that were attacked this past weekend.