Tanya Abrosimova
Independent Analyst
- Cryptocurrency exchanges start unlocking BCH accounts.
- CoinMarketCap lists Bitcoin ABC under Bitcoin Cash name.
Six days have passed since Bitcoin Cash split into two competing chains; however, the market is still bewildered by the outcomes of this controversial hard fork with potentially far-reaching consequences for the whole cryptocurrency industry.
As the hash rate war is coming to an end with Bitcoin ABC as an obvious winner, another conflict is about to erupt. Major cryptocurrency exchanges have started to unlock BCH accounts and relaunch trading services for new coins. So far, so good, but some trading platforms use new tickers for both coins, while the others assign BCH ticker to Bitcoin ABC, claiming that it is a true successor of Bitcoin Cash.
It makes harder to estimate the market situation and the trading volumes for the coins. CoinMarketCap portal added Bitcoin SV (BCHSV) as a new coin and merged ceased to exist Bitcoin Cash (BCH) with Bitcoin ABC. It means that the price and the trading volumes reflected under Bitcoin Cash name on CoinMarketCap now refer to Bitcoin ABC.
This decision outraged many Bitcoin SV supporters, who pointed out that many exchanges clearly listed two coins. However, the portal administration does not share this opinion.
"Hello, 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. Thank you," they replied in their Twitter account.
Thus, Bitcoin Cash now takes the fourth place in CoinMarketCap's rating and changes hands at $235.75, gaining over 6% in recent 24 hours. Meanwhile, Bitcoin SV now takes the 1733rd place and trades at $51,17, down 11% on a daily basis.
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