Activity On The BCH Network Decreases For The First Time In 2020

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • There was a drastic decrease in the user activity on the Bitcoin Cash (BCH) Network and still continues to decrease to a minimum.
  • Many speculate that the reason behind this decrement is attributed to the coronavirus pandemic.
  • Many believe this is the right time to invest in the crypto-assets, and the increased activity has caused the Ethereum Blockchain network to overload.

As of March 8th, there was a drastic decrease in the user activity on the Bitcoin Cash (BCH) Network and still continues to decrease to a minimum. Previously before the decrement, the BCH network clocked at 50,000 transactions per day.

However, now it has decreased to 20,000 transactions and less. Jameson Lopp, the founder of Satoshi.info, Bitcoin.page, and lightning. How showed this decrement activity to the public audience on his twitter handle.

Many speculate that the reason behind this decrement is attributed to the coronavirus pandemic, this has provoked a mass exit from the crypto realm, not the activity alone, the market values of the top coins have also decreased steeply. However, the performance of an activity on these coins is yet at its peak due to the thought ‘buy the drop’ circulating online.

Many believe this is the right time to invest in the crypto-assets, and the increased activity has caused the Ethereum Blockchain network to overload, and the processing time has increased to more than 44 minutes and the total number of transactions per day increased to more than 700,000 per day.

Similarly, in the Bitcoin Blockchain network, the transaction numbers have increased to 350,000 per day amidst the market value of the asset tumbling.

This week the data schematics showed Bitcoin Cash tumbling to $ 173.66. Altcoin market capitalization fell to $ 3.183 billion. A few days prior, the BCH coin was replaced by the Tether StableCoin, standing from the fourth line of the rating of the largest digital currencies.

BCH in its market value is showing in red at -4.98% averages with the current value of $167.82 with a market capitalization of $3,076,273,240, and a 24-hour trading volume of $3,435,521,861, the ROI on the coin is still at a large negative 69.81%.

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