The main ecosystem for Bitcoin Cash (BCH) has experienced a lot of good things this week. The markets have been surging up well and tremendous growth can also be seen on the infrastructure.
More Than 139% Growth
Over the past six months, the price of Bitcoin Cash has risen by more than 139%. There is a hard fork that is scheduled for May 15th, and it appears things aren’t bad within the BCH market, two weeks before that planned event. The upcoming hard fork is expected to increase the size of BCH block to 32MB and also bring back certain OP_Codes.
This week alone, a lot has been recorded within the Bitcoin Cash markets and there has also been an increase of the main Bitcoin Cash infrastructure.
At the moment, the Bitcoin Cash chain is nearing 8,000 blocks, much ahead of the Bitcoin Core chain. On top of that, Bitcoin Cash is currently trading at 15.21% of the difficulty of Bitcoin Core. It is also important to note that Bitcoin Cash is now 3% more profitable to mine today than it was some days back.
Today, the market action has recorded the leading five exchanges trading the most Bitcoin Cash as Bithumb, Houbi, Upbit, Bitfinex, and Okex.
The Most Traded Currency
According to the market reports that were recorded on the 3rd of May 2018, Bitcoin Core was the most traded currency that was swapped for Bitcoin Cash. This attracted a 39% of all the trades. It was closely followed by USDT – Tether, which had 22%. The United States Dollar had 18%, while the Euro and the Korean won both had 1.5% and 16.2% respectively.
The strong growth and increase that has been made by Korean won over the past seven days cannot go unnoticed. At the moment, there is 17,107,588 Bitcoin Cash that is in circulation. This presents a market valuation that is estimated at more than $25 Billion.
Signs of Better Times Ahead
Both the support and the infrastructure of Bitcoin Cash have significantly increased over the past few days. There are also a couple of announcements that went down this week. The first one came from Blockchain Wallet, which made it clear that the Bitcoin Cash balances can now be viewed on mobile wallets that support iOS.
The Memo Platform also underwent upgrades this week and this has led to certain traction for quite some time. Just yesterday, Blockpress, a new social media application that operates the same as Memo, was introduced to the market.
Reactions for Global BCH Consumers
This week, a number of brandings portraying Bitcoin Cash symbols have been spotted in various world locations. In the Philippines, a nice looking BCH Jeepney was spotted with a cool BCH symbol on it. A quick look at a social media site known as 4chan revealed how Bitcoin Cash was trending on various mentions. There is now the latest Augustus version that has been released by BRD wallet to support in-wallet trades and BCH.
The proponents of Bitcoin Cash are also very happy with what’s currently going on in the market, as a great growth can be seen in the whole market.