Wednesday was somewhat of a poignant day for the cryptomarkets, with the ongoing Bitcoin Cash battle between Bitcoin ABC and Bitcoin SV raising the stakes, with today’s hard fork and anticipated split doing Bitcoin and the broader market few favors.
Bitcoin Cash was in the green through the early part of this morning, up 2.87% at the time of writing to $535.4, with the gains coming off the back of a flat Tuesday.
Simply put, blockchain is a case of cutting out the middleman, generating fees without the cream being taken off the top, which should ultimately translate into wide profit margins, for some at least.
Bucking the trend of previous hard forks, where coin holders and those looking to profit from the creation of new coins would buy into the cryptocurrency ahead of a hard fork, is Bitcoin Cash that has garnered plenty of news attention over the last week.
Ethereum (“ETH”) has been having a tough time of it of late, with ETH/USD falling by 0.45% on Monday, following on from a 0.19% fall on Sunday, to end the day at $208.77.
The volatility seen through the much of the year contributed to the uptick in volumes as investors and traders from other asset classes were drawn in to trade the daily swings that were sizeable when comparing to even the more exotic currencies and the global equity markets.