Here’s what happened in crypto today
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Bitcoin Cash (BCH) Halving Takes Place on the Network
The Bitcoin Cash (BCH) halving has been completed at block #840,000, resulting in a reduction of miners' rewards from 6.25 BCH to 3.125 BCH. Despite a sharp fall in BCH's value, it has since recovered and continues to grow. BCH is a fork of Bitcoin that operates on the Proof-of-Work (PoW) algorithm, and this was its second halving event. The price of BCH had been increasing in anticipation of the event, with its value growing by over 147% since the beginning of the year. Meanwhile, Bitcoin's halving is expected to take place in 16 days and 2,000 blocks, with analysts predicting a surge in BTC's value.
BCH breaks through $660, with a daily increase of 7.83%
Market data shows that BCH has broken through $660 and is now trading at $661.35, with a daily increase of 7.83%. The market is volatile, so please be prepared for risk control.
BCH briefly exceeded $500, with a 24-hour increase of more than 47%
According to RootData market data, BCH has broken through $500 in the short term and is now priced at $496.72, with a 24-hour increase of 47.39%.
BCH breaks through $400, rising more than 30% within the day
According to market data, BCH has broken through $400 and is currently trading at $405.2, with an intraday increase of 30.08%. The market is volatile, please exercise caution in risk control.
BCH broke through $360, with an intraday increase of 16.85%
The market shows BCH breaking through $360, now reporting at $362.1, with an intraday increase of 16.85%. The market is fluctuating greatly, please be prepared for risk control.
BCH briefly exceeded $290, with an intraday increase of 13.84%
Market data shows BCH has broken through $290 in the short term and is now trading at $288.9, with a 24-hour increase of 13.84%. The market is volatile, so please be prepared for risk management.
EDX Markets delists BCH and currently only supports BTC, ETH and LTC assets
On November 2nd, according to the official website, EDX Markets, a cryptocurrency trading platform supported by giants such as Citadel Securities and Fidelity, has terminated its support for Bitcoin Cash (BCH) trading and currently only supports three types of cryptocurrencies: BTC, ETH, and LTC.
Bitcoin Cash (BCH) Sees Most Improvement in Market Liquidity Among Altcoins in Q3
Bitcoin cash (BCH) has seen the most significant improvement in market liquidity during Q3, making it a potential alternative cryptocurrency for traders anticipating market volatility. Liquidity refers to the market's ability to handle large buy and sell orders at stable prices, and BCH's increased liquidity means lower slippage and easier execution of big orders.
Bitcoin Cash Rebounds to $214, Bringing Relief to Short-Term Traders and Optimism to Long-Term Investors
Bitcoin Cash (BCH) has made a strong recovery from its recent low of $180, reaching $214 in just two weeks. This has brought relief to short-term traders and renewed optimism for long-term investors who have been struggling since mid-June.
BCH Halving Countdown: 220 Days Are Expected
Tokenview data shows that there are still 220 days before the Bitcoin Cash (BCH) 2024 halving, with 31,734 blocks remaining. The halving is expected to occur on April 5, 2024, when the block reward will decrease from 6.25 BCH to 3.125 BCH.
Bullish Whales Buy Bitcoin Cash Despite Price Correction and Miners Selling Off Reserves
Bitcoin Cash experienced a 27% drop in value from July 6 to July 25 due to miners selling off a significant portion of their reserves. However, large-scale buyers known as "whales" have started purchasing again, with those holding 100,000 to 10 million BCH increasing their holdings by 230,000 BCH over the past two weeks. This has raised optimism among the global Bitcoin Cash community and could lead to a sustained price recovery towards the $300 mark, but the bulls must first overcome the $280 resistance. If the whales stop buying, the price of BCH may drop to $200, but it has a strong support base of 461,000 investors who purchased 2.25 million coins at a minimum price of $228. If this support level fails, BCH could retrace towards $200. There is speculation that bullish whales may push the price above $300 in August.
Bitcoin Cash Miners Withdrawing Funds Signal Bearish Trend
Bitcoin Cash miners have been rapidly withdrawing funds from their reserves, indicating a potential decline in the altcoin's value. This comes after a surge in trading activity last month led to a 200% increase in price, prompting miners to capitalize on the opportunity. However, the price of Bitcoin Cash has since dropped by 28%, and the withdrawal of funds by miners could put further downward pressure on the price.
Binance Pool Launches BCH Mining Service
According to the official announcement, Binance Mining Pool launched Bitcoin Cash (BCH) mining service, which adopts FPPS settlement method. The mining income will be automatically deposited into the user's fund account before 18:00 (Eastern Eighth District Time) every day. BCH mining address: stratum+tcp://bch.poolbinance.com:8888 Port support: 8888, 3333, 1800, 443
Can Bitcoin Cash (BCH) Holders Turn the Tide and Reclaim Profits?
Bitcoin Cash (BCH) has been experiencing a downtrend in July, with losses mounting for investors. The Market Value to Realized Value (MVRV) ratio shows that most holders who acquired BCH in the last 30 days are now 8% underwater.
Bitcoin Cash Struggles to Reclaim $300 Psychological Level as Open Interest Rates Ease Below $500 Million
The writer's opinion is presented and it is not financial, investment, trading, or other types of advice. Bitcoin Cash (BCH) has been struggling to close above $300 since July 2nd, and has failed to reclaim the $300 psychological level.
Crypto Strategist Bullish on Binance Coin (BNB) and Bitcoin Cash (BCH) with Targets in Sight
A crypto strategist with a large following is optimistic about Binance Coin (BNB) and Bitcoin Cash (BCH). The strategist believes that BNB is currently undervalued and could reach $300 or even $340 by the end of 2023.
Binance.US Refutes Bitcoin Cash (BCH) Reserves FUD
Binance, the world's largest exchange, has been facing rumors and doubts about its Bitcoin Cash (BCH) reserves on its American subsidiary, Binance.US. The company has clarified that it maintains a 1:1 reserve for BCH, meaning that for every BCH held on the platform, a BCH is kept in reserve.
Bitcoin Cash Enters Bear Market as Investors Take Profits
Bitcoin Cash has entered a bear market after experiencing a significant increase in June. The coin's value has dropped by 22% from its highest point in June due to profit-taking. This decline is also linked to Bitcoin's struggle to move above the bullish flag pattern.
Bitcoin Cash (BCH) Retracement: A Risky Move for Buyers?
July 5 (Cointime) - The writer's opinion is presented and it is not financial, investment, trading, or other types of advice. Bitcoin Cash (BCH) experienced a rally of 214% in under two weeks, but a retracement could be risky for buyers. Traders can look to capitalize on a retracement if the market gives one, but they must beware of becoming liquidity before a deeper retracement. The mean coin age declined as BCH rocketed higher on the chart, suggesting that sellers could force Bitcoin Cash lower once more.
