Bitcoin Cash (BCH) outperformed the rest of the top ten cryptocurrencies in regards to price appreciation last week: demand for Bitcoin Cash has been increasing at a robust pace supported by trader’s optimism in the infrastructural improvement in virtual currency markets.
BCH price rose 70% last week, and the coin is extending its incredible bull-run into this week. Bitcoin Cash is up 20% today to $1430 – the highest level in the last two months.
The announcement related to a hard fork – a platform that will exclusively pair it with fiat and other cryptocurrencies for trading, substantially supported the dramatic Bitcoin Cash price upswing.
The potential launch of the hard fork is expected on May 15 and will significantly enhance its capability for processing transactions. The block size will increase to 32MB after the upcoming infrastructural developments.
Brian Kelly, founder and CEO of BKCM, shows strong confidence in future fundamentals of altcoins. He suggested investors look at altcoins, particularly Bitcoin Cash for potential gains.
“Bitcoin cash has been left for dead... but it’s not dead yet,” Kelly told CNBC on Fast Money on Tuesday,
EOS and Populous are the Biggest Gainers
Though Bitcoin Cash outperformed the rest of top ten digital currencies last week, Populous and EOS stand among the most prominent gainers since the start of this month.
Populous (PPT), an inventory and commerce finance platform, stunned investors with price gains of more than 150% since the start of this month. PPT coin price rose 55% in the last week alone. Populous coin ranks at the 29th spot – with the total market cap of less than $1 billion. Its blockchain technology concentrates on improving small and medium scale enterprises in dealing with their invoices –particularly, the unpaid invoices.
EOS (EOS), the fifth largest cryptocurrency, generated price gains of 106% since the start of this month. EOS coin price trades around $11.70 today, the highest level in the last two months. Its market cap stands around $9.3 billion, and the majority of trading volume comes from OKEx, Huobi, and Bitfinix.
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Sharon is a journalist based in Durban, South Africa. He has years of experience in writing for a number of print and digital platforms, ranging from sport to technology and of course, Cryptocurrencies.