Recode’s Money article Recoding Bitcoin Cash: How to get started and understand the cryptocurrency.
This week Recode breaks down the latest news and tech trends in the world of cryptocurrency, as well as the companies that are making a difference in it.
The most prominent cryptocurrency is Bitcoin Cash, which is an offshoot of a much smaller cryptocurrency called Bitcoin.
Bitcoin Cash’s market cap is estimated at $5 billion, and it has surged in value as of early Tuesday morning, as its market cap has increased from $5.3 billion at the start of the week to nearly $60 billion at press time.
Bitcoin Cash has been gaining popularity in the cryptocurrency space, and has been seen as a more secure alternative to Ethereum, which has been the top contender for Bitcoin as of late.
The Bitcoin Cash market cap stands at over $4 billion, making it one of the top-five cryptocurrencies on the cryptocurrency market.
Bitcoin cash is not only cheaper than Ethereum, but it has been able to keep the price of Ethereum relatively low.
In fact, the average Bitcoin Cash price in January was around $2,100.
As a result of Bitcoin Cash gaining traction, the number of Bitcoin transactions in China, the world’s second-largest economy, has increased.
At press time, China had over $1 trillion worth of Bitcoin in circulation.
This is the largest market share of any cryptocurrency.
China is one of a number of nations in China to have seen a significant increase in the number and value of transactions for Bitcoin, and the Bitcoin Cash transaction volume is now the third-highest in the country, behind Ethereum and Litecoin.
China’s Bitcoin Cash has seen the cryptocurrency gain more popularity in China as a result.
China has become one of China’s largest trading partners for the cryptocurrency, and Chinese investors have been buying Bitcoin Cash as a form of hedging against the devaluation of the yuan.
In January, the Chinese government issued a notice that it would suspend cryptocurrency exchanges in China.
The announcement was intended to help boost the Bitcoin price, but China’s government has said that it was not intended to affect the value of Bitcoin.