It cannot be denied that Bitcoin (BTC) and Ether (ETH) are currently the two most dominant cryptocurrencies, and as a result they command the most attention from mainstream media, institutional and private investors, but that does not mean that the leading sectors do not always challenge networks. The competition.
Two divergent projects that have attempted to challenge Bitcoin and Ethereum to their top positions are Bitcoin Cash (BCH) and Ethereum Classic (ETC). Both currencies showed last week that they are still able to generate interest and generate significant returns.
Data from Cointelegraph Markets and TradingView shows that the price of BCH has risen 125% in the past two weeks, from a low of $ 523 on April 4th to a high of $ 1,175 on April 16th. Time High at $ 46.53 on April 16th.
BCH / USDT
Bitcoin Cash arose out of controversy in the Bitcoin community that centered around the scalability of the Bitcoin blockchain and the desire to increase block size.
As a result of the controversy, a portion of the community split and “share” Bitcoin to create Bitcoin Cash to implement the required code updates.
The protocol now aims to be a peer-to-peer electronic cash system that can be used to make fast payments around the world with low fees, user privacy and high bandwidth.
The momentum for Bitcoin Cash began to pick up in early April when the cryptocurrency market as a whole attracted more attention from the major media and financial markets. One theory suggests that new investors are looking for old currencies with a lower value as a starting point, rather than chasing after Ether and Bitcoin, which can be costly to new cryptocurrency traders.
With Bitcoin surpassing $ 61,000 once again, and hash rate reaching 200 tests per second, the leading cryptocurrency is out of reach for many small investors and miners who could turn to BCH as a more realistic alternative.
ETC / USDT
Ethererum Classic appeared in the 2016 Hard Fork score in the Ethereum community after hacking into a popular platform called The DAO. The DAO was originally an independent, decentralized organization designed to operate as an investor-driven, venture capital firm.
Ethereum Classic is actually the Etherum original old chain, with no corrective actions to recover the money lost due to the hack, and it’s a way to preserve the spirit of the ending.
As Ethereum became a widespread version of the network, Ethereum continued on its own path and attracted the attention of the crypto community, as high transaction costs and Ethereum’s transition to the consensus of Proof-of-Stake pushed ETC to new heights as users searched for compatible alternatives.
The retail speed of Ethereum Classic has grown steadily over the past six months along with the price increase of ETC, helping to make the network more attractive to interested miners and improving overall security.
As more and more participants enter the cryptocurrency market in search of profitable deals in existing projects, older coins such as BCH and ETC may see further price increases.