Bitcoin forks BCH, BSV and XEC soared last month, but are the gains organic and sustainable?
A wave of ETF fillings and institutional trading interest in digital assets followed BlackRocks ETF filling.The launch of EDX Markets — backed by Wall Street giants Fidelity Investments, Citadel Securities and Charles Schwab– on June 20 fueled a particular sector of the market, that being Bitcoin forks like Bitcoin Cash (BCH) and Bitcoin SV (BSV) and other proof-of-work (PoW) cryptocurrencies like Kaspa (KAS). Its bad performance drove miners away from its environment, making a 51% attack relatively less expensive on Bitcoin SV– a one-hour attack needing less than $2,000 compared to $1.4 million for Bitcoin, which makes the blockchain vulnerable.BSV everyday rate action. Source: CoinGeckoeCash (XEC) joins BSV and BCH in a Bitcoin fork-rallyeCash is a rebranded variation of a tertiary Bitcoin fork, Bitcoin Cash ABC, which was another fork of Bitcoin Cash besides Bitcoin SV.
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A wave of ETF fillings and institutional trading interest in digital assets followed BlackRocks ETF filling.The launch of EDX Markets — backed by Wall Street giants Fidelity Investments, Citadel Securities and Charles Schwab– on June 20 fueled a particular sector of the market, that being Bitcoin forks like Bitcoin Cash (BCH) and Bitcoin SV (BSV) and other proof-of-work (PoW) cryptocurrencies like Kaspa (KAS). The addition of BCH catalyzed an uptrend throughout other Bitcoin forks.Among the leading gainers in June, 3 Bitcoin forks populated the list, followed by Kaspa and FLEX Coin (FLEX). Its poor efficiency drove miners away from its community, making a 51% attack fairly cheaper on Bitcoin SV– a one-hour attack needing less than $2,000 compared to $1.4 million for Bitcoin, which makes the blockchain vulnerable.BSV daily rate action. Source: CoinGeckoRelated: Bitcoin Jesus says Ethereum is the front-runner for worldwide crypto adoptionKaspa (KAS) advantages from enhanced performance and low liquidity Kaspa is a PoW consensus-based blockchain network similar to Bitcoin and Litecoin. Source: CoinGeckoeCash (XEC) joins BSV and BCH in a Bitcoin fork-rallyeCash is a rebranded variation of a tertiary Bitcoin fork, Bitcoin Cash ABC, which was another fork of Bitcoin Cash besides Bitcoin SV.