Source for BlockChain News

Category archive

bitcoin cash wallet

Bitcoin Cash (BCH) Gains Momentum, Soars 16% on High Volume

by
Bitcoin Cash

Bitcoin Cash

Over the past years, the altcoins market has grown at a breathtaking pace, and during this period, Bitcoin Cash (BCH) has emerged as one of the more popular ones. This week, BCH emerged as one of the biggest gainers in the crypto space and gained as much as 16% in the past 24 hours as altcoins seemed to make a comeback.

It should be noted that 2019 was a pretty disappointing year for altcoins; however, things seemed to have changed for the better in 2020. Much of BCH’s surge took place during a four-hour window, and it goes without saying that crypto traders are going to watch BCH closely over the coming days.

Solid Momentum

It was a good day in the crypto space on Wednesday, as a lot of money got pumped into the market, and, according to some reports, the total influx of money stood at a staggering $12 billion. Out of that, as much as $1 billion went into Bitcoin Cash. On Tuesday, the token was trading at $375.03, but after the rally, it jumped to $441.09 per token, and that reflected gains of as much as 16%. The market cap of BCH also climbed considerably, jumping to $7.8 billion in the blink of an eye, so to speak.

Fourth Biggest Cryptocurrency

It is a significant development for traders who are into BCH. The latest rally establishes its position as the fourth biggest cryptocurrency in the world, and such a status can eventually lead to a bigger rally in the coming days.

>> Craig Wright Accused of Abusing Attorney-Client Privilege in Trial

Investors and traders need to watch the developments closely and also look out for opportunities in other altcoins. The latest rally takes the gains generated by Bitcoin Cash for the month to 91%, and it remains to be seen if it can gather further steam in the coming days.

At the time of writing, BCH is trading at $443.50.

Featured image: DepositPhotos © SergPoznanskiy

If You Liked This Article Click To Share

SBI Delists Bitcoin Cash | Keeps Support for Bitcoin SV

by
SBI Delists Bitcoin Cash

SBI Delists Bitcoin Cash

In a potentially rebellious move, major Japanese financial services company, SBI Holdings, announced it is delisting Bitcoin Cash (BCH) from its digital currency exchange. Let’s check this out.

SBI Delists Bitcoin Cash (BCH)

Yesterday, we covered the controversy surrounding the delisting of Bitcoin SV (BSV). Specifically, the world’s largest cryptocurrency exchange, Binance, announced yesterday that it will delist this crypto effective April 22nd.

The move comes as a retaliation against the actions of BSV creator Craig Wright (more on that to follow).

But today, tables are turning somewhat as major Japanese financial services company, SBI Holdings, is holding onto Bitcoin SV, but is delisting Bitcoin Cash (BCH). BCH’s departure from the exchange will happen in June, and the exchange will keep support for BSV.

So What is Going On?

As with all things cryptocurrency, there are complications. Bitcoin Cash is the first hard-fork of the leading and original cryptocurrency Bitcoin (BTC) and was created in August 2017. Bitcoin SV, then, is a hard fork of Bitcoin Cash and was created by Craig Wright—who controversially claims that he is the creator of the original Bitcoin.

Wright’s proclamation that he is the person behind the pseudonym Satoshi Nakamoto has disrupted the cryptosphere. So much so, that several major crypto trading platforms have followed in Binance’s footsteps and chosen to also delist BSV. A #DelistBSV hashtag has even begun trending throughout social media.

SBI Holdings to the Rescue

Now, SBI Holdings has come to BSV’s defense in a move that is bound to divide the cryptocurrency universe further. Reports from Cointelegraph suggest that the CEO of the financial giant, Yoshitaka Kitao, has a personal connection with Wright. A past Tweet of Wright’s stated that Kitao is “a friend and man I respect a lot.”

>> FBCoin: Facebook Set to Launch Its Own Cryptocurrency Coin

A Split Market?

With SBI ousting Bitcoin Cash, it’s hard to know where the market will go next. Will we start to see an exchange split across the globe? Team BSV vs team BCH?

Despite the news, Bitcoin Cash is climbing in value—up nearly 6% in the past 24-hours, trading at approximately $314 USD.

BSV has crashed this week on the back of the delisting controversy. While SBI’s move may help to rescue Wright’s pride, it hasn’t been able to rescue the coin’s value. BSV is currently down more than 21% on the day, trading for $55 USD according to CoinMarketCap.

What team are you on?

Featured Image: DepositPhotos © sirichaiDeposit

If You Liked This Article Click To Share

Bitcoin.com to Launch a Bitcoin Cash Supported Futures Contract

by
Bitcoin Cash

Bitcoin Cash

Cryptocurrency investor Roger Ver’s Bitcoin.com is in talks with Bitcoin Cash (BCH) to launch a futures contract. David Shin, the company’s head of the exchange division, dropped the revelations regarding the prospect. The company is also working on different plans to enhance its interest in Bitcoin Cash together with the futures contract.

Futures Contract to Make the Cryptocurrency Third Largest

The introduction of the futures contract will have the goal of increasing the company’s market capitalization of cryptocurrency. This will make it the second-biggest crypto behind Bitcoin. Shin confirmed that within a year they want to create the second- or third-largest crypto by market cap. He added that to move from fourth to third or second, the company would need to see more volume.

Currently, talks are ongoing to list BCH derivate products on the Commodity Futures Trading Commission. With no CFTC-regulated exchange offering Bitcoin Cash futures, this push will enhance trading volumes as well as liquidity, which will then boost the market cap of BCH.

Bitcoin Cash is currently the world’s fourth-largest cryptocurrency in terms of CoinMarketCap. To move even one place the crypto will have to double its market cap, as XRP, which is the third-largest crypto, currently sits at a $10.9 billion market capitalization. According to Coindesk data, on Thursday, BCH was trading at $300 per coin with an estimated market cap of around $5.4 billion.

>> France Pushes to Block Development of Libra in Europe

Bitcoin.com to Approach CME Group to List a BCH Futures Instrument

Shin also indicated that the company had begun discussions with a US-regulated crypto futures exchange. There are also plans to approach the Chicago Mercantile Exchange Group (CME) with a proposal to list a BCH-backed futures tool. Crypto futures are a new phenomenon to US investors, and CME is the main distributor of Bitcoin futures in the US. It is already planning to unveil another Bitcoin derivative product.

Shin said that the company will try and list Bitcoin Cash futures on one of the exchanges that are CFTC-regulated.  This will enhance the company’s reach, which means it will have more users and trading, which will boost volumes.

Featured image: DepositPhotos © merznatalia

If You Liked This Article Click To Share

Bitcoin Cash Will Be Available on HTC’s Blockchain Phone

by
Bitcoin Cash

Bitcoin Cash

Over the past few years, plenty of cryptocurrencies have been created that have further broadened the ecosystem, and one of the most important ones is Bitcoin Cash. On the other hand, it has to be taken into consideration how a crypto ecosystem is emerging pretty quickly, and one of the recent developments in this regard are crypto phones—or blockchain phones.

Over the past weeks, companies like Samsung and LG have announced plans to introduce crypto smartphones, which is why the latest development with regards to HTC is not really a surprise.

Important News for Bitcoin Cash

In a new development, smartphone manufacturing giant HTC has teamed up with Bitcoin.com to support BCH on the crypto wallets in HTC’s blockchain phone. Bitcoin.com published a press release on Monday and announced that it is going to come in as a long-term partner with HTC. Due to the consummation of this partnership, the two will now work together on the Exodus 1 smartphone from HTC and ensure that the built-in crypto wallet supports Bitcoin Cash. This is another development that seeks to make it easier for people to store their BCH tokens. If the whole thing becomes easier, then there is every possibility that the demand for these tokens will rise as well.

>> International Central Banks to Question Libra Over Security Concerns

On the other hand, it is also important to note that this move from HTC is an indication of the fact that the smartphone maker is trying everything to claw its way back into the market. Back in 2018, the company’s market share dropped to an abysmal 1%, and maybe the company believes that the introduction of a crypto phone might just be the tonic that it needs.

That being said, it is necessary to keep in mind that HTC is a believer in cryptocurrencies and has been involved in a range of projects over the past months. The partnership with Bitcoin.com and the inclusion of Bitcoin Cash looks like a deliberate effort.

Featured image: DepositPhotos © perig76

If You Liked This Article Click To Share

Bitcoin Cash (BCH) Climbs Higher After Halving Event

by
Bitcoin cash

Bitcoin cash

One of the most crucial events in the lifetime of most cryptocurrencies is its halving event. Bitcoin Cash (BCH) had its much-anticipated halving on Wednesday. BCH had its first block reward halving yesterday, and the event resulted in a rally in the cryptocurrency. After the halving, BCH soared by 15% over the past 24 hours, and it will likely be in focus over the course of the coming days.

Is Halving a Bullish Sign?

A halving measure generally involves providing miners with half the rewards they used to get for mining one block. In theory, it should lessen the number of tokens in circulation in the long-term. That often leads to the rise in the price of tokens that were halved.

During the same period, Bitcoin SV managed to record gains of 19.4%, so it could be worthwhile for traders and digital asset investors to keep an eye on. BCH experienced a rapid surge, climbing from $249.23 per token to $277.22 per token in the last 24 hours.

However, the halving may not be particularly great news for Bitcoin Cash miners. It should be noted that BCH is the fifth biggest cryptocurrency in the world by market cap, and the rewards are considerable for the miners. However, the reduction of the block rewards by half could hit miners particularly hard.

>> Ethereum (ETH) Gains Momentum Ahead of ETH 2.0 Upgrade

The halving of the rewards will eventually result in gross margins dropping to almost zero once other costs are factored in. This is a situation that is certainly going to be in the minds of traders and investors as they go about figuring out the Bitcoin Cash halving. It remains to be seen how the miners react to the news.

What do you think about the Bitcoin Cash halving? Do you agree with the process?

Featured image: DepositPhotos © amanalang

Please See Disclaimer

If You Liked This Article Click To Share


Risks and Disclosure:

Information provided in this correspondence is intended solely for informational purposes and is obtained from sources believed to be reliable. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained on this website is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions made or suggested and the actual results.

All statements and opinions expressed are the opinions of the author and not of Cryptocurrencynews.com or its officers. The author is wholly responsible for the validity of all statements. Cryptocurrencynews.com was not involved in any aspect of the article preparation. The author was not paid by Market Jar Media Inc for this article. The author did not pay Cryptocurrencynews.com to publish or syndicate this article.

This article does not constitute as investment advice. Each reader is encouraged to consult with his or her individual financial advisor; any and all actions taken by a reader as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Cryptocurrencynews.com’s terms of use and full legal disclaimer. This article is in no way a solicitation for investment. Cryptocurrencynews.com does not render general or specific investment advice. Any information on Cryptocurrencynews.com should not be considered a recommendation to buy or sell any security. Cryptocurrencynews.com does not endorse or recommend the business, products, services or securities of any company mentioned on Cryptocurrencynews.com.

Futures, stocks and options trading involves substantial risk of loss and is not suitable for every investor. The valuation of futures, stocks, and options may fluctuate, and, as a result, clients may lose more than their original investment and possibly their entire investment. Any content on this website should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to confirm and decide which trades to make. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

Please see our full disclaimer here for additional details before making any investment decisions.

Go to Top