The last seven days have been busy within the Bitcoin Cash ecosystem with a slew of announcements and developments. Kraken exchange recently added the BCH-based Cashaddr address format and Coinbase open-sourced a utility that makes it easy to convert between Base58 and Cashaddr addresses. Additionally, the New Hampshire-based Anypay payment processor is bolstering merchant adoption by offering 10% bitcoin cashback for purchases through their point of sale services.
Bitcoin Cash Markets Hold Steady While Transactions Per Day Keep Rising
In the past week, the BCH market capitalization ($5.55 billion) has surpassed LTC but BCH markets are down roughly 7.8% during this period. Each BCH is swapping for $309 per coin and there’s around $1.19 billion in global bitcoin cash volume. The top exchanges trading the most BCH on Saturday, August 10 include Coinbene, Digifinex, Hitbtc, Bibox, and Okex. Right now the top trading pairs swapped against BCH are USDT (52%), BTC (28%), USD (8.7%), ETH (6.8%), and KRW (2%).
One of the biggest metrics rising over the last few weeks for BCH has been the number of daily transactions. BCH miners have been processing an average of 35-40,000 transactions (txn) per day and there have been multiple 24-hour periods above 60,000 txn per day. The influx of daily transactions is likely attributed to