Bitcoin Cash Trading Volumes 20 Percent More Than Bitcoin: Reasons & Trends
From Cointelegraph
While in terms of market capitalization Bitcoin Cash is still playing catch up with Bitcoin, in terms of trading volume Bitcoin-Cash has overtaken Bitcoin and currently, its trading volume is 20 percent over Bitcoin ($3.1 bln vs. $2.6 bln).Read more: https://cointelegraph.com/news/bitcoin-cash-trading-volumes-20-percent-more-than-bitcoin-reasons-trendsSouth Korea drives BCH volumes
South Korea is the one country which is driving increased trading volumes of BCH. Bithumb, Coinone and Korbit account for $1.7 bln out of the $3.1 bln (55 percent of total volume) BCH trading volumes.The increase in the USD price of BCH (From $300 a week back to over $800 currently) has also resulted in the USD value of BCH trades going up.
Unlike other countries where Bitcoin Cash is traded primarily against Bitcoin, in Korea BCH is primarily traded against the Korean Won.
South Korean exchanges were amongst the earliest to announce support for BCH trading and did so even before the actual hard fork and creation of Bitcoin Cash.
Bitcoin Cash contributes to Bitcoin volumes as well
Given that BCH is relatively new and fiat-BCH trading is not that well established, most people who want to buy BCH use BTC to buy it.Hence the demand for BCH results in higher BTC volumes as well.
Out of the $2.6 bln BTC trading volumes, approximately 30 percent is contributed by BTC-BCH trading at various exchanges (Bittrex, Poloniex, Bitfinex, Huobi, HitBTC, etc.).
When the BCH-Fiat market develops further, it could result in BTC trading volumes declining as well.
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I think the Chinese are trying :)
For myself i don't believe in this coin
Do you guys think it's possible for Bitcoin Cash to overtake Bitcoin in value?
im tempted to just invest in ethereum instead.
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Why are you copying news articles and profiting off of them? The only thing that is in your words is "From Cointelegraph", "Read more:", and "Follow @contentjunkie to stay up to date on more great posts like this one." More like a "great" post from Cointelegraph.
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