After a recent 39% price surge earlier in the month of July, around 10 Bitcoin Cash [BCH] whales have left the network, possibly trading or selling their millions in holdings.
In line with Crypto Twitter user Ali Martinez, data from analytics site Santiment reveals the number of investors holding between 10,000-100,000 Bitcoin Cash [BCH] – roughly around $3-30 Mln – has fallen by 10 since the starting of this month. The drop comes after the token surged 38.7% from $224.46 USD on 17th July to a three-month high of $311.34 USD on 31st July, implying that a number of whales could have sold their holdings.
BCH still holds its fifth position as the largest crypto asset by market capitalisation at $5.6 Bln, with Chainlink [LINK] trailing at $4.6 Bln. At the time of reporting, Bitcoin Cash is trading at $307.84 USD, having risen 3% within the past 24 hours.
Bitcoin Cash & SHA256D Algorithm
Moreover, the BCH community has floated changing the algorithm as a part of the network’s November upgrade. As reported earlier on 7th Aug., that developers have figured out a compromise between two proposed solutions. The network will implement the ‘Aserti3-2d’ difficulty adjustment proposed by lead BCHN maintainer Jonathan Toomin, and an infrastructure funding plan.