Bitcoin Cash attains $7 billion capitalization after a few hours

fredyfresh (25)in #bitcoincash • 7 years ago

Summary:

Bitcoin Cash (BCH) gains as much as $7 billion market capitalization at the end of Tuesday
Japanese exchanges gear up to credit customers with the (BCH)
Bitcoin (BTCUSD ) hovers just above a support and remains little changed despite a fork

There was a big day for all cryptocurrency traders as a Bitcoin fork was ultimately taken place. As a result, Bitcoin Cash has begun to be mined, however there has been no drama seen in the original Bitcoin price so far. As we outlined yesterday, Bitcoin price remained volatile as there were many unknowns what could happen if the new virtual currency was implemented after all.

We may say, so far so good, what could be interesting though, Bitcoin’s volatility as if it has subsided as opposed to expectations which suggested larger price swings.

Bitcoin Cash has carved out close to a $7 billion market capitalization on the cryptocurrency landscape thus far. Source: cryptocoinsnews.com

At the end of Tuesday, the Bitcoin Cash market capitalization struck close to $7 billion, while the price surged more than 87%. At the same time, there were seen some upward moves on other kind of cryptocurrencies such as Ethereum (ETHUSD), Dash (DSHUSD) or Ripple (XRPUSD). Nevertheless, one need to say that exchanges all around the world are yet to begin crediting their customers with the new digital currency.

For instance, all major Japanese bitcoin exchanges announced that they will soon credit their customers with Bitcoin Cash, the new cryptocurrency created as Bitcoin’s blockchain diverged into two separate blockchains today. For every bitcoin held by customers at the time of the fork, the same number of BCC will be credited to their accounts. The major question tag is, when they begin crediting their clients with the new virtual currency and what they (investors) do with new Bitcoin Cash. If they decide to sell them instantly, it could spur a massive sell-off.