Summary
TLDR: Bitcoin Cash recently underwent its halving, reducing block rewards to 3.125 BCH. The price spiked to around $700, marking a 10% increase over the past week. Bitcoin Cash was created as a cheaper and faster alternative to Bitcoin, with a market cap of $13 billion compared to Bitcoin’s $1.3 trillion. Bitcoin’s halving is set to occur around April 20 at block 840,000.
Key Points
1. Bitcoin Cash underwent its halving just a few weeks before Bitcoin’s quadrennial event.
2. The halving for Bitcoin Cash (BCH) happened Thursday, reducing block rewards to 3.125 BCH. Unlike bitcoin, this is only the second such event for the forked network. The last halving took place in early April 2020, with block rewards falling to 6.25 BCH.
3. BCH spiked to prices not seen since 2021 following its halving event, hitting a high of around $700 in early Friday hours before it settled around $660. The jump marks a 10% increase over the past seven days.