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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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…
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