2023-07-01 15:01:02
In the past two weeks, the price of the bitcoin cash (BCH) token was able to show a serious increase. During this period, the price increased by almost 200% and this was also reflected in the hash rate displayed on the network. There are currently 22 bitcoin cash mining pools providing SHA256 hash rates to the chain, as mining BCH is now 2.7% more profitable than BTC. Bitcoin Cash is still far from its all-time highs The last day of June was a particularly volatile day in the crypto market, thanks to the release of the US Commerce Department’s May Personal Consumption Expenditure (PCE) data, which showed a 0.1% increase. Basically, there were a couple of cryptocurrencies that dropped a bit on the news, but bitcoin cash (BCH) was not one of them. The price of the token might rise by more than 100% in one week. This upward trend has clearly motivated miners to enter the network with higher hashrates. On June 30, 2023, the hashrate of BCH hovered around 5.6 exahashes per second. If we look at the fact that on May 11, 2023 it was only 1.55 exahashes per second, you can see the explosive power of the growth. On June 30, Viabtc gave the highest hash power to the BCH network with 603 petahashes per second. Behind Viabtc in the rankings are Antpool, Zsolobid, F2pool, Pool Moscow and Trust Pool. According to Coin Dance statistics, as of June 30, you can collect 2.7% more profit by mining BCH than mining on the Bitcoin network. However, let’s add that bitcoin cash also has room to rise once more. On February 15, 2020, the network had a hash rate of 14.36 exahashes per second. So the question now is that, although the increase in the price and hash rate of BCH can be seen, how long will this momentum last.
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