Breaking News
Home / Cryptocurrency / Bitcoin Cash Price Climbs 11 to Hit 2-Month High

Bitcoin Cash Price Climbs 11 to Hit 2-Month High

The price of bitcoin cash rose more than 11 percent on Tuesday, pushing its price to a new two-month high.

Market data shows that the cryptocurrency’s price has risen 30 percent since Sunday, and is currently trading at roughly $623. Bitcoin cash is the fourth-largest cryptocurrency by market capitalization, CoinMarketCap data shows.

The price of BCH was trading hands at $425 before surging 32.5 percent, where it reached a then-peak of $588 on Nov. 5, clocking a 5-week high in the process when it was later confirmed, according to Coinbase exchange data.

The market developments come as bitcoin cash prepares for a hard fork – or backward-incompatible code change – on November 15, this time involving two different implementations: Bitcoin ABC and Bitcoin SV. The cryptocurrency was originally created by way of a hard fork off of the original bitcoin network after the scaling debate boiled over last year.

 

BCH’s price boost makes it one of the top-performing cryptocurrencies of the day, based on information from crypto-data sources OnChainFX and CoinMarketCap.

Other top performers for Tuesday include XRP, which hit a one-month high earlier in the day (it has since risen above $0.50 apiece as of press time) and Stellar lumens, which has climbed more than 8 percent in the past 24 hours. On Tuesday, wallet service provider Blockchain announced that it would give away $125 million in XLM as part of an airdrop for its customer base.

As of the time of writing, the total market capitalization of all cryptocurrencies is up more than $6 billion on a 24-hour basis, reaching a 22-day high of roughly $218 billion.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Business chart miniature image via Shutterstock; charts by Trading View 

Join 10,000+ traders who come to us to be their eyes on the charts and sign up for Markets Daily, sent Monday-Friday. By signing up, you agree to our terms & conditions and privacy policy

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)}(window,
document,’script’,’//connect.facebook.net/en_US/fbevents.js’);

fbq(‘init’, ‘472218139648482’);
fbq(‘init’, ‘239547076708948’);
fbq(‘track’, “PageView”);

About yogabeautyhealth

Check Also

Blockchain Project Launches Ethereum-like Token Development Platform

Token development platform seeks to launch Ethereum like Blockchain with increased speed, low development costs, …

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: