- Bitcoin cash, a cryptocurrency which split in a “hard fork” from the flagship bitcoin in August 2017, surged more than 13% on Wednesday while other cryptocurrencies were in the red.
- The spike came as Overstock.com, one of the first retailers to accept cryptocurrency payments, mixed up bitcoin cash with bitcoin – mistakenly allowing users to profit by placing orders and subsequently cancelling them, CoinDesk reported.
- Bitcoin cash is currently the fourth-largest cryptocurrency by market cap, according to OnChainFX, with a total value of $US45.8 billion. It trails just bitcoin,ethereum, and Ripple’s XRP – all of which were down on Wednesday. Its rise has been fuelled by lower transaction times and fees, which have been a source of contention for the bitcoin blockchain.
- Almost every cryptocurrency took a hit this week when coinmarketcap.com, one of the most popular data sites for cryptocurrency prices, unexpectedly removed South Korean exchanges from its data, causing prices to show major drops on its site and inducing some fear selling.
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