This week, the decentralized cryptocurrency Bitcoin Cash has seen some market gains and there’s also been a slew of new announcements and development over the past couple of weeks. Currently, the price per BCH is around $1,120 after dropping below the $1K range the week prior. Moreover, since the fork this past May the BCH-ecosystem has seen all types of application development and community projects launched with a new announcement nearly every day.
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Today’s Bitcoin Cash Statistics
It’s been over 10 months since the August 1 fork and today the BCH chain is roughly 7201 blocks ahead of the Bitcoin Core (BTC) chain. Since then, the decentralized cryptocurrency ecosystem has performed two successful hard forks, one of which changed the currency’s difficulty algorithm, while the other fork added new OP_Codes, and raised the base block size to 32 MB. Over the past year, the BCH hashrate has grown exponentially and this week the hashrate is averaging close to 5 exahash per second between roughly 12 different mining pools. This Friday, June 8, the Bitcoin Cash chain is 1.5% more profitable to mine according to Coin Dance statistics. Further Coin Dance data details that it is 5.95x more expensive to transact on the BTC network today.
Market data shows that BCH is down 2 percent today but has gained 13 percent over the last seven days. The market has a lot more trade volume today than a few days prior with $516Mn BCH swapped over the past 24-hours. The top exchanges trading the most BCH liquidity include Okex, Binance, L Bank, EXX, and Huobi. Bitcoin Cash is the fourth highest market capitalization still but also holds the
