After a price increase of 39% at the end of July At least 10 Bitcoin Cash whales have left the network, potentially trading or selling their millions in possession.
According to Twitter user Ali Martínez, data comes from the analysis site Santiment show as The number of investors who own between 10,000 and 100,000 Bitcoin Cash (BCH), roughly $ 3 million to $ 30 million, has fallen by 10 since Aug. 1. The decline is due to the token increasing 38.7% from $ 224.46 on July 17 to a three-month high of $ 311.34 on July 31, which implies Several whales could have sold their property.
As of August 1, around 10 whales have left the network, a decrease of 5.6%. pic.twitter.com/uriR5j8K8q
– Ali Martinez (@satoshilatino) August 7, 2020
BCH remains the fifth largest crypto asset by market capitalizationWith 5.6 billion US dollars, Chainlink (LINK) is behind with 4.6 billion US dollars. At the end of this issue, Bitcoin Cash is trading at $ 307.84 after rising 3% in the past 24 hours.
Adjustments to the BCH difficulty algorithm
Bitcoin Cash uses the SHA256D algorithm, which Bitcoin also uses. However, the hash power is less than 5% that of Bitcoin.which has made it vulnerable to 51% attack at times.
In response, The BCH community changed the algorithm as part of the November network update. Cointelegraph reported on Aug. 7 that The developers have worked out a compromise between two proposed solutions. The network will implement the “Aserti3-2d” difficulty adjustment proposed by BCHN leader Jonathan Toomin and an infrastructure financing plan.