Bitcoin Cash Performs Much Better In Crypto Market Rally
The cryptocurrency space has been witnessing a major rally in the last few days. Bitcoin is up by about 10.2% in the last 24-hour period, while BCH is up by 17%. Also network activity on the Bitcoin cryptocurrency’s network started surging to the extent that according to BitInfoCharts, the average transaction fee is currently at about $2.47.
This could be seeing various bitcoin users turn to BCH, which has 32 MB blocks to accommodate cheaper transactions and follows an on-chain scaling roadmap, and as a result cheaper transaction fees. Per the same data source, average transaction fees on the BCH blockchain are of $0.0047.
BCH has recorded as the best performing cryptocurrency in the last 24 hours. One BCH is currently trading at $363, up from $260 a month ago.
Also last month the cryptocurrency also outshined the wider crypto market rally with a 150% rise in 30 days.
The cryptocurrency’s price growth has seemingly been accompanied by increased adoption, as data shows BCH transactions per day are up significantly since the start of this year.