Failed fork: Bitcoin Cash is rapidly losing popularity in Commerce

Looks like the last few months have been disappointing for holders of Bitcoin Cash. According to analysts Chainanalysis, use of cryptocurrency in Commerce plummeted. This writes Cointelegraph.

What will happen to Bitcoin Cash

The group of experts has established that since March of this year the number of payments in the BCH is down by nearly 70 percent — from 10.5% to $ 3.7 million. For comparison: the volume of payments in Bitcoin had fallen to $ 60 million with a record high of 412 million dollars, which was recorded in September.

The number of users of Bitcoin Cash is reduced, the holders also get rid of the coins.

This year the price of Bitcoin Cash dropped by 75 percent, whereas Bitcoin has fallen by almost 55 percent. Chief economist Chainanalysis Kim Grauer considers the centralization of the main problem of BCH. Recall that 56 percent of all coins Bitcoin Cash is stored on 67 wallets. While two wallets are present in amounts from 10 to 100 thousand Bitcoin Cash.

Hardwork Bitcoin has caused a lot of disputes in cryptocommunist. However, the largest manufacturer of Asimov Bitmain sees Bitcoin Cash a lot of potential.

Vice President Alejandro de La Torre explained why hardwork main cryptocurrencies are so important.

The ability to make ppl were and not to lose the support of the community — a great achievement. BCH provides more bandwidth due to the increased block size to 32 megabytes. This is more than we need now but in the future the Bitcoin Cash will be able to process huge number of transactions. Larger block sizes also allows you to develop smartcontract in the blockchain BCH.

Despite all the hardships, Bitcoin Cash still holds 4th place in terms of capitalization on Coinmarketcap. Today, the coin is trading at $ 535, the last day it dropped 2 percent.


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