Daily crypto: Markets are rising and bitcoin cash divides itself

Daily crypto: Markets are rising and bitcoin cash divides itself.

Image source: Shutterstock / Wikimedia Commons

Tim Haldorsson

tim.haldorsson@trijo.co

The total market cap for all cryptocurrencies has risen by $2 billion over the last 24 hours. Bitcoin cash splits itself after a so-called hard fork.

The crypto markets have increased in the last 24 hours. Currently, approximately 65 out of the 100 biggest cryptocurrencies show green numbers.

The market cap for all cryptocurrencies has risen by $2 billion over the last 24 hours – from $183 billion yesterday to $185 billion today.

Yesterday (November 15), bitcoin cash made a network update through a so-called hard fork. The update for bitcoin cash ended with the division “bitcoin cash abc” (BCHABC) and “bitcoin cash sv” (BCHSV). On crypto exchanges like Poloniex, users can currently trade with the two different cryptocurrencies. The currency “bitcoin cash abc” is currently trading at $280, while a “bitcoin cash sv” is trading at around $80, according to Poloniex.

Speculation that a major player intends to sell

Crypto exchanges like Binance have temporarily stopped deposits of bitcoin cash. However, there have been large transfers of bitcoin cash, for example, recently 1 122 877 bitcoin cash, equivalent to $450 million, was moved over a short period of time. This has created speculations on the web forum Reddit that a major player intends to sell large sums of “bitcoin cash abc” or “bitcoin cash sv”.

Stellar has increased the most

If we look at the biggest cryptocurrencies, most of them show green numbers. Stellar (+5,91%), xrp (+4,05%) and ethereum (+1,26%) have gained value, while bitcoin (-0,33%) and bitcoin cash (-2,51%) have lost in value over the last day.

The biggest currency bitcoin (-0,33%) is at the time of writing traded at $5,613.

The cryptocurrencies on top 100 that performed the best during the last 24 hours were wax (+14,12%) and basic attention token (+11,83%), and those who performed the worst were nasdacoin (-9,00%) and bitshares (-4,49%).

Asset: Price: % (24h)*
Bitcoin $5 613,96 -0,33%
Xrp $0,47574 +4,05%
Ethereum $179,72 +1,26%
Bitcoin cash $419,02 -2,51%
Stellar $0,24303 +5,91%

*All numbers in this article are from Coinmarketcap.com.

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