Bitcoin Cash ABC increased by 70% moments after Sechet released a new client, days after the recent hard fork so let’s read more in today’s Bitcoin Cash news.
Amaury Sechet’s Bitcoin Cash ABC increased by 70% today once he announced the latest upgrade for the client software which includes stability-related fixes for both forks of the BCH client. The latest release brings more life into the Bitcoin ABC faction of the Bitcoin Cash which got crashed by the rival BCH Node in the hash war over the past week, moments after the hack on November 15. This led to many rumors about its demise. According to CoinMarketCap BCHA started trading at $11.78 and the coin is now trading with a strong volume on exchanges which was initially low at $10.50. Now it increased to $21 before settling back in the $19 and $20 range.
This movement represents a 70% increase in the past 24hours which is expected to boost the confidence of the coin that is expected not to be abandoned soon. However, the BCHN version now trades at $254 and is listed as Bitcoin Cash or BCH on most exchanges. Sechet expressed positivity for the future of his creation on Twitter overnight inferring that he will remain strongly dedicated to the ABC community.
The BCHA crowd is the most amazing crowd in crypto, hands down.
The fact that it is small, yet, says way more about crypto than it says about anything else.
There is no other place I'd rather be in.
— deadalǹ͔͜͡i͎̜͖͗̎͞x̛̳̠̤̥̦̉̊̕̕ (@deadalnix) November 17, 2020
Losing the claim to the BCH name and the BCH ticker, the Bitcoin Cash node faces heavy criticism as a new coin in terms of gaining more support from the merchants. In addition to these problems, there’s only a handful of blocks that were added to the BCHA chain by miners since November 15 which is the date of the hard fork. The slowdown is a result of the lingering imbalance between the high mining difficulty and the lack of hash power that is needed to find blocks at this level of difficulty.
The recent BCHA Block took seven hours to find over 14,000 transactions which is an increase from the previous block’s count of 1,674 which is over 0.9 BCHA in transaction fees which is $19.40 at today’s prices. Unlike the personal drama that unfolded in the previous Bitcoin Cash hard fork in 2018, Sechet was amicable in terms of acknowledging the power and will of the community and the strong possibility of ABC’s defeat. Three days before the expected fork, Bitcoin ABC started the transfer of the bitcoincash.org domain. Bitcoin ABC now will continue to support both BCHN and BCHA after the fork in order to serve the businesses that have adopted the coin as a method of payment.
Bitcoin ABC will support both BCHA and BCHN after the #BCH chain split.
Businesses have the freedom to choose between the two chains, while still being able to run battle-tested Bitcoin ABC software.https://t.co/57dlgKcpvz pic.twitter.com/zjsoe8TJE2
— Bitcoin ABC (@Bitcoin_ABC) November 6, 2020
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