Bitcoin Cash (BCH) Hash War Ends, Price Surges by 26%
The Bitcoin Cash drama and the accompanying slugfest has finally begun to calm down. The bitcoin cash price on Monday made a charge back toward the $200 level as the majority of the crypto market goes green, Bitcoin Cash (BCH) rises by about 26 percent.
According to CoinGecko, BCHSV has a market cap of $2,215,709,902 effectively placing it at number 7 in the biggest cryptocurrencies by market cap, behind stellar’s Lumin (XLM) and just in front of Tether.
The price surge was bolstered following the announcement that CoinGeek had formally called for an end to the “hash war” that had threatened to destabilize the BCH network following this month’s contentious hard fork.
Asserting that SV proponents no longer wanted the BCH ticker: “Bitcoin SV is the original Bitcoin, not the original Bitcoin Cash”.
It also appears that Calvin Arye of Coingeek and SV developer Craig Wright “fake Satoshi”, are working together in order to bring 1 terabyte blocks to BCHSV, an upgrade that would enable the network to carry out up to seven million transactions per second.
Calvin Ayre in a press release said “Bitcoin SV fought to preserve the Satoshi Vision, and is the original Bitcoin. We will now focus entirely on building upon an already vibrant Bitcoin SV ecosystem.”
“Although ABC may keep the damaged BCH ticker symbol, BSV is winning over BCH’s native application ecosystem in droves. We look forward to out-competing BCH (and BTC) in the marketplace, rather than in further chain battles.”
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