Christmas delight? Bitcoin Cash lead the crypto rally with a 40% rise
December 20, 2018 @ 00:00 UTC
Are we witnessing an early Christmas gift for crypto hodlers? Bitcoin Cash ABC leads the crypto rally after surging nearly 40%. The crypto asset has engaged itself in an impressive upside action, surging 40% on an adjusted 24-hour timeframe. In five days, the Bitcoin Cash ABC market cap has jumped from $1.32 billion to $2.83 billion, indicating that bullish sentiment is being maintained on every higher high formation.
Meanwhile, the volume of Bitcoin Cash ABC is also noting a steep rise from its previous low. On December 15, the Bitcoin Cash ABC/Dollar market recorded $72.2 million worth of trading volume across all the crypto exchanges. However, the pair has registered a 934% surge in its daily trading, now posting $745 million worth of volume on a 24-hour adjusted timeframe.
Bitcoin SV, which was launched after forking the main Bitcoin Cash blockchain, has gained 18%. The surge appears a further more speculative than the rest of the crypto market, owing to some bad press Bitcoin SV received lately. Traders have capitalized on the deeply oversold status of Ethereum and EOS, two of the leading decentralized blockchain projects. While Ethereum price jumped close to 6% on a 24-hour adjusted timeframe, EOS is a little behind with a 4% jump.