Bitcoin Cash ABC merges with Bitcoin Cash on CoinMarketCap
A week has passed since the infamous Bitcoin Cash hard fork, which set off multiple bear runs that shaved off over $50 billion from the collective market cap and sent major coins to record lows.
Bitcoin Cash had split into Bitcoin Cash ABC [BCH ABC] and Bitcoin Cash SV [BCH SV] following the hard fork last week, which divided the community into two factions. Proponents of each faction lambasted the other side, causing a major rift in the BCH community.
Following the hard fork, several exchanges issued notices for the suspension of BCH trading to prepare for the addition of BCH ABC and BCH SV to their platforms after considerable delay. The hashrate war then ensued, with the two starting off at the same level before BCH ABC began accelerating further.
Exchanges such as Kraken and Coinbase have since voiced their support for BCH ABC, the original roadmap set forth by bitcoincash.org. This commitment by several exchanges was the precursor for platforms adopting the BCH ticker for BCH ABC, signaling its dominance. The Singapore-based Huobi was the first major crypto exchange to give the BCH ticker to what seems to be the winner of the hard fork.
In line with the stance of many platforms, BCH ABC has now been given the BCH ticker on CoinMarketCap, the global coin repository. The following message appears on the BCH page:
“In order to reflect the current market, we have merged our Bitcoin Cash (BCH) and Bitcoin Cash ABC (BCHABC) listings. We have observed that a majority of exchanges are using the Bitcoin Cash (BCH) to refer to the Bitcoin Cash ABC implementation.”
BCH SV also appears on CoinMarketCap, languishing at the 1727th position on the global coin ladder. At press time, the coin hit daily trading volumes of $33.3 million and had dropped 8.6% against the U.S. dollar to trade at $48.55.
Data from CoinMarketCap showed that Bitcoin Cash ABC now sits on the 4th spot on the global coin ladder in terms of market cap, briefly slipping one spot below due to the hard fork tensions, which allowed a declining Stellar Lumens [XLM] to overtake it at the time. At press time, BCH ABC had a market cap of $3.9 billion, a decrease of $7 billion since the start of the month and was valued at $223.6.
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