The cryptocurrency market has been undergoing a roller coaster ride with some coins seeing green with others still reeling under the impact of the bear. Bitcoin Cash [BCH] which has been on an upsurge for the past twenty-four hours has not stopped its bullish march.
At press time, Bitcoin Cash [BCH] was rising at the rate of 11.25% and was trading for $473.3. The cryptocurrency held a total market cap of $8.25 billion with a 24-hour market volume of $593.95 million.
A majority of the cryptocurrency’s market volume was held by OKEx which had a grasp on $59.562 million of the total trade. OKEx was closely followed by DigiFinex, with a hold on $48.974 million of all the BCH trade.
Bitcoin Cash’s upsurge has come on the back of several updates and developmental announcements. On November 3, Coinbase, a popular cryptocurrency exchange, announced its support towards the upcoming Bitcoin Cash hard fork. The hard fork which is stipulated to occur on November 15 has created quite the ripple in the cryptocurrency space. Coinbase announced:
“We will pause sends and receives on the BCH wallets at Coinbase.com, in our iOS and Android apps, and at Coinbase Pro and Prime beginning at 8:00AM PST on 11/15/2018 (approximately 1 hour before the fork). Please be sure all BCH sends and receives are completed prior to that time. During the pause, your BCH will remain safely at Coinbase.”
BCH run up towards the hard fork was also punctuated by Cobra’s support for a new implementation on the BCH blockchain. Cobra is famous in the cryptocurrency space for being the anonymous controller of the bitcoin.org website. Cobra stated:
“Bitcoin Cash as will be implemented by the Cobra Client is the real Bitcoin Cash. All other versions of Bitcoin Cash (ABC and nChain) are scams and go against community consensus by pushing controversial changes.”