This catastrophic cryptocurrency goes live, everyone wants to save their skin – Bitcoin Cash (BCH) record on exchanges

It’s going to hurt for BCH – A possible new „hash war“ is shaping up on the Bitcoin Cash (BCH) network this Sunday, November 15. In this perspective of a litigation fork, which could create 2 different cryptos, many are repatriating their BCH on crypto-exchanges ready for the coming clash.

A tax story that does not pass

To make it short, the Bitcoin Cash community is split between those who want to implement an 8% tax on mined block rewards and those who categorically reject this forced taxation.

The pro-taxes have come together under the banner of Bitcoin Cash ABC (or BCHA ) led by Amaury Séchet , while the anti-tax have joined forces with Roger Ver , under the name of Bitcoin Cash Node (or BCHN ).

Faced with this prospect of having 2 cryptos for the price of one , data from the Chainalysis site clearly indicates that a significant influx of BCH has landed on crypto trading platforms.

Influx incoming BCH on the exchange platforms

In the past 7 days, $ 270 million worth of Bitcoin Cash has been deposited on crypto exchanges. This equates to just over 1 million BCH . Therefore, if the hard fork were to create a BCHA and a BCHN, BCH owners would simply have the 2 new cryptos, without having to do any manipulation .

All for nothing?

It should be noted in passing, again thanks to data from Chainalysis, that BCH exchange volumes have not changed . So there doesn’t seem to be a wave of buying or converting to BCH.

As the owners of this BTC fork do not want to sell either (in view of the hard fork and its possible doubling of cryptos), the trading volumes of the last 7 days are even a 6-month low .

Author: admin