Bitcoin Cash Surpasses Litecoin in Market Capitalization Race
The price of Bitcoin Cash (BCH) has surged by 20% in the past week, crossing $280 and surpassing Litecoin (LTC) in the race to reach a $6 billion market capitalization by 2024.
Bitcoin Cash vs. Litecoin
Bitcoin Cash and Litecoin are both decentralized payment systems that originated from Bitcoin. The recent crypto market rally has led to significant gains for BTC and BCH, while LTC has only seen a modest increase since its halving in August 2023.
Institutional investors have shown interest in Bitcoin Cash recently, pushing its price to a new peak of $289.4 on Feb. 12. Meanwhile, BCH’s market capitalization has surpassed that of LTC.
Choosing Between Litecoin and Bitcoin Cash
BCH has taken the lead in the race to reach a $6 billion valuation. Its higher trading volume compared to LTC suggests better short-term prospects. Whale investors are also accumulating BCH, which could trigger further price increases.
Crypto Whales Boost Bitcoin Cash
Crypto whales have been buying BCH consistently over the past few months, with a total of 50,000 BCH worth $11.6 million acquired between Jan 1 and Feb. 14. This increased buying pressure from whales indicates that more bullish action could follow for BCH.
Based on previous whale buying trends, it is likely that BCH will continue to outpace LTC in the coming days.
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