Bitcoin Cash: Higher Decentralization, Big Whale Accumulation

13. März 2023 Aus Von admin

• Bitcoin Cash (BCH) has a high decentralization compared to Litecoin and Ethereum Classic.
• BCH whales have been reaccumulating during the recent crash.
• Despite the accumulation, addresses within the 100,000 to 1 million BCH category have been contributing to some selling pressure.

Bitcoin Cash’s Decentralization

Bitcoin Cash [BCH] has managed to retain a sizable following, and it is perhaps the most underrated cryptocurrency as far as decentralization is concerned. A higher hash rate is often considered a good measure of decentralization for Proof-of-Work networks, and it also translates to higher network security. BCH’s hash rate has been above the 1 EH/s level for the last three months. Its hash rate at press time was as high as 1.78 EH/S which outperformed Litecoin and Ethereum Classic in terms of hash rate. Bitcoin Cash has a higher block size than BTC, and this facilitates a higher TPS which makes it more preferable option as a peer-to-peer payment than Bitcoin.

Price Action

Bitcoin Cash traded at $114.16 at press time which represented a 25% discount from February highs but still showed an upside from its current weekly low of $105.05. The recent pivot was underpinned by significant whale accumulation where whales in the highest address category holding over 1 million BCH have been adding to their balances while addresses within the 100,000 to 1 million BCH category have been contributing to some selling pressure which may explain its limited upside growth despite accumulating large amounts of coins recently.

Profit Calculator

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Dormant Circulation Metric

Bitcoin Cash’s dormant circulation metric indicates that there is still plenty of room for price recovery if buyers remain engaged in buying during dips or when prices are stagnant for prolonged periods of time like now. This means that there are investors who are willing to buy large quantities of coins even when prices drop or stagnate, so they could trigger an uptrend if they decide to enter again with full force into the market soon enough!

Conclusion

In conclusion, we can see that despite being overshadowed by more popular cryptocurrencies such as BTC or ETH, Bitcoin cash still remains one of the most decentralized digital currencies out there with its impressive hashrate levels combined with larger block sizes allowing for increased transaction throughputs making it suitable for peer-to-peer payments not just investment purposes alone! Furthermore, we can also see that although whales continue accumulating large amounts of coins recently, these same investors seem hesitant when it comes downing investing again resulting in stagnation instead – yet due there’s plenty of room left for price recovery if these buyers remain engaged buying during dips or periods when prices stagnate like now!