News From The Crypto Currencies Scene

Bitcoin Market Cap Stable Following The Hard Fork

Bitcoin Market Cap Stable Following The Hard Fork

The prices Bitcoin have stabilised at $2,700 after reaching $2,900 on August 1, following the fork. The market cap is maintained at $45.2 billion.

The newly created Bitcoin Cash has still not undercut Bitcoin’s value but has made the market’s future uncertain. The August 1 hard fork caused a split in the blockchain for seeking new means to handle disagreements over how the principal technology should run.

The prices of the Bitcoin Cash shot over $700 on Wednesday, up by more than 130. The sudden rise in the value of the newly created digital currency settled market cap over $10 billion. Bitcoin Cash currently sits at $482.50, which is up by 12% from its previous value.

Ever since the world’s largest cryptocurrency exchange announced its stand of not supporting the newly created currency through a July 27 blog, the exchange witnessed a mass departure of traders from its platform.

The fork further has created disagreement within the digital currency community as some of the exchanges rejected the new token altogether, which includes Coinbase. Coinbase has been threatened to be sued by an activist group for its decision to withhold the new currency from its investors.

The group wants Coinbase to allow its users to trade Bitcoin Cash which rightfully belongs to them after the Bitcoin hard fork on August-1-2017.

 

All rights reserved.