The cryptocurrency market has been experiencing faint signals of recovery when top-5 crypto giants went green yesterday. It seems as though the market could turn to a bullish trend for the remainder of the week if nothing bad happens. Even when the market is struggling for a complete reversal of last week’s damage, Bitcoin Cash is performing better than other cryptos effortlessly. On 4th June Bitcoin cash nearly doubled its figure over 7 days. All that’s left to see is whether BCH markets can maintain this uptrend.
Bitcoin Cash’s Trading Volume
Bitcoin cash community members have been comparing it with BTC in terms of gains, traction, adoption, volume etc. since the very beginning. The reason why BCH soars so high is that of its dedicated community members and investors. A cryptocurrency’s demand is measured by its volume which turns out to be a useful indicator while analyzing a crypto’s success rate. Analysts have indicated that BCH market’s increasing volume might be the cause of its bullish trend. Currently, 13.26% of BCH volume is coming from OKEx where $88.3 million USD worth of Bitcoin Cash has exchanged hands at the individual price of $1131.50 USD while its total volume for the last 24 hours is close to $643 billion.
Japanese Retailers Soon to Accept Bitcoin Cash
Some experts believe that a bull run is just around the corner for Bitcoin cash. There’s been a revelation from Roger Ver, whom people know as cryptocurrency evangelist and promoter of Bitcoin cash that the currency might get adopted by thousands of Japanese retailers as a payment method and thus enter the Japanese market.
Although it’s still just a hint which was given during a recent interview and not an official announcement, therefore, it’s still unknown as to when this adoption will take place. Roger Ver seemingly announced that some tens of thousands of convenience stores and retailers are up for accepting Bitcoin cash soon. This would allow people to buy stuff with BCH and also pay their bills with it. Ver has also pointed out towards the impending partnership with Menufly for accepting BCH as payment for its large-scale operations in major cities and bitbox to provide developing tools for devs utilizing Bitcoin cash network.
BitcoinCashers.org Assists in Bitcoin Cash Adoption
Since its inception, Bitcoin cash has been aiming towards becoming global payment mode and rule the sector by injecting the digital currency into the daily lives of people. Bitcoin Cash Foundation has made gradual advancements to clear BCH path by including more features in it and making it better than its core project, Bitcoin.
Bitcoin cash strives to be better suited for consumers as well as businesses and in countries with the high inflation rate, Bitcoin cash becomes more useful than fiat currencies. In order to quicken the pace of global adoption, the team behind Bitcoin cash has created BitCashers.org. One of the many purposes of BitCashers.org is that it is likely to promote Bitcoin cash as a ‘made for business’ crypto to the global audience and thus increase the number of BCH users substantially.
Zero Fee Transactions for BCH Miners
There’s one another of Bitcoin cash hitting headlines these days and it’s regarding a new initiative that convinces Bitcoin cash miners to process a limited number of 0 fee transactions in every block by removing dust limit. This initiative has gained support from many renowned individuals and companies such as Prof. Craig Wright who promotes Bitcoin. The said initiative turned heads when nChain and CoinGeek that their respective mining firms will start allowing their users to make transactions for a negligible fee (even less than 1 Satoshi i.e. $0.00001137). Through this initiative, some companies are aiming for Bitcoin Cash growth and promote competition free marketplace among miners.
The total market capitalization of Bitcoin Cash is close to $19.4 billion USD according to CoinMarketCoin data at the time of writing. Having amassed such a huge market, Bitcoin cash is now available everywhere and assisting global vendors to make and accept payments directly without depending on any bank, government and payment service. It is presently ranked as the 4th biggest cryptocurrency worldwide.
Bitcoin Cash undoubtedly has untapped potential to rise above the rest of the altcoins and change the course of crypto history by becoming the first forked digital asset that’s more profitable than its core project. There are many indications that Bitcoin cash may rise in the remaining week therefore, crypto enthusiasts believe that it might be good time to go all in. With new ideas like BitCashers.org, BCH team is actually trying to gain more attention from vendors, retailers and also developers from all over the world. If things go well, then $1500 mark can be possible to reach.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…