Bitcoin Cash (BCH) – second mining reward halving and price fluctuations – what does it mean for this cryptocurrency?

Bitcoin Cash (BCH) – Second Miner Reward Halving in History

On April 3, 2021, the second miner reward halving in Bitcoin Cash (BCH) history took place at 22:45 Coordinated Universal Time (UTC) at block height 840,000. The miner rewards were reduced from 6.25 BCH to 3.125 BCH.

Bitcoin Cash – Faster and Cheaper Alternative to Bitcoin

Bitcoin Cash is a proof-of-work blockchain network and cryptocurrency considered to be faster and cheaper to use than Bitcoin (BTC). The first miner reward halving for Bitcoin Cash occurred on April 8, 2020, reducing the rewards from 12.5 BCH to 6.25 BCH.

Bitcoin Cash Price Fluctuations

The price of Bitcoin Cash has increased by 147.85% in the last three months, by 24% in the last 30 days, and has decreased by 9.94% in the last 24 hours. Currently, the price of Bitcoin Cash stands at $572.21 according to CoinMarketCap data.

Position Liquidation and Open Interest

The price drop led to a total value of $3.9 million in position liquidations, predominantly affecting long positions worth $3.3 million and short positions worth $569,540 according to CoinGlass data. On March 29, Cointelegraph reported that open interest (OI) in Bitcoin Cash perpetual futures contracts reached a record high of $708.75 million. Currently, OI continues to rise, reaching $799.23 million.

Summary

Bitcoin Cash has experienced its second miner reward halving in history, impacting the market and trading activity. Price fluctuations and the increased interest in Bitcoin Cash perpetual futures contracts indicate ongoing changes and developments in this cryptocurrency. The cryptocurrency market situation is dynamic, so staying updated with the latest information is crucial to keeping abreast of Bitcoin Cash-related events.