Bitcoin Cash (BCH) Becomes the Top Gainer of the Day After Surging by 12.8%

Bitcoin cash, a derivative of Bitcoin has become the top gainer for the day after surging by 12.8% in the past 24 hours.

Bitcoin Cash (BCH), a derivative of Bitcoin created in 2017, has emerged as the top gainer among the first 100 leading cryptocurrencies over the past 24 hours. As of press time, BCH is trading at $449, surging by 12.8% over the past day with a 24-hour trading volume of around $544 million, according to CoinMarketCap data.

The crypto asset has a market capitalization of $8.99 billion, making it the 16th largest crypto asset on the list of the top 100 crypto assets curated by CoinGecko.

Bitcoin Cash is a derivative of Bitcoin that was created in 2017 following disagreements within the Bitcoin community regarding proposed updates. Bitcoin Cash is a hard fork of Bitcoin that operates a Proof of Work (POW) mechanism with its supply capped at 21 million tokens.

Bitcoin cash just like Bitcoin undergoes a halving event every four years with the reward for mining the asset currently set at 6.25BCH.

A significant distinction between Bitcoin and Bitcoin Cash is the block size. Bitcoin Cash supports a block with a higher number of Data, unlike Bitcoin which is capped at 1mb. This enables Bitcoin Cash to process a higher number of transactions.

Bitcoin Cash which was the top gainer in the market today surging by over 12.8% in value is benefitting from the redistribution of Bitcoin and Bitcoin Cash by Kraken to Mt. Gox creditors recent. This is followed by a significant whale activity on Bitcoin cash spotted by onchain tracker FishTheWhales.

A trading analyst known as Dz_4L highlighted on X that Bitcoin Cash has emerged from an inverse head and shoulders pattern, suggesting a bullish trend. He predicts that BCH could see a further 15–20% price increase based on this momentum.

Other factors leading to the surge in Bitcoin Cash price at the moment could be a rub off effect of the Bitcoin conference in Nashville which witnessed a lot of Pro Bitcoin pledges and positive forecasts for the crypto asset.

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