Bitcoin Cash Is Stealing Show from the Cryptocurrencies

Image for post
Image for post

Bitcoin Cash has recaptured its position by market capitalization after having made strong gains in line with the recent market upturn. Bitcoin Cash overtook Litecoin, EOS and Stellar and continues to make gains over 40 percent.

Litecoin Versus Bitcoin Cash

Litecoin enthusiasts eagerly awaited Litecoin’s “Coin-Flapping” over Bitcoin Cash. There was even a website to monitor the event. And, in short, on December 14th, Litecoin had surpassed his rival Bitcoin Cash as predicted.

Bitcoin Cash suffered a lot after the BCH civil war, so Litecoin was able to catch up in terms of the market capitalization benchmark. As Bitcoin Cash and Bitcoin SV split off, both had lost much of their value.

However, Bitcoin Cash has seen a strong upturn recently and it does not seem to stop. The cryptocurrency has rallied 70 percent since December 15, climbing from $82 to over $210.

What is Flapping?

The “Flapping” is a pun on the previously expected “Flipping”, in which Ethereum and Bitcoin should overtake by market capitalization. Although such an event never took place, Litecoin enthusiasts adopted the terminology.

The rivalry between LTC and BCH is both functional and ideological. Functionally, both cryptos aim to act as exchange media. Both coins, however, differ in their interactions with the Bitcoin community. Litecoin markets itself as a supplement to Bitcoin, some refer to Litecoin as the silver of the cryptocurrencies.

In some cases, Litecoin acts as a test network for upgrades before integrating with Bitcoin’s main network, which serves as evidence of the more conservative Bitcoin protocol. Due to these synergies, both communities tend to work harmoniously together.

In the meantime, Bitcoin Cash claimed that it was the original version of “Bitcoin” imagined by anonymous creator Satoshi Nakamoto as peer-to-peer electronic cash.

Bitcoin Cash was able to take full advantage of the current market upswing and recover somewhat from the recent crisis. Now that Bitcoin Cash has regained its place as number four, it will show how BCH continues to evolve.

Author: Marko Vidrih @cryptomarks

Image via Shutterstock

Written by

Most writers waste tremendous words to say nothing. I’m not one of them.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store