BCH Markets & Network: Strong Momentum Gathered in 1st Quarter


The digital assets have been undergoing several ups and downs till last year and as of the first quarter of 2019 (Q1) things have started to get much better. The Bitcoin Cash markets (BCH) prices have touched the best highs for the year 2019 at the end of the first quarter and the overall strength of the network has improved a lot since the fork of the last year. The all time highs that the BCH has touched in 2019 on 2nd of April were $193. Moreover, the Bitcoin cash markets have gathered a higher percentage than many of the other cryptocurrencies (+47.6% / 30 day) that have been experiencing a whopping gain during the previous month of the quarter one.

The most dominant pairs that traded against the BCH over the last three months include USDT, ETH, BTC, USD, JPY and KRW. As per the Bitcoin.com markets, the top exchange that has traded the most BCH in the Q1 was the Chinese Cryptocurrency trading platform named as Lbank. Nevertheless, it is hard to verify the trading volume data of the Lbank. If Lbank was removed from the equation, then Binance would be the leader in the market in the Q1 considering the BCH trading volume.

In  matter of fact, over the last three months, there has also been a lot of accumulation as the unspent transaction output of the network (UTXO) set size has grown enough. From January 1st till now, the BCH hashrate has increased a lot to 1.8 exahash. The first quarter of 2019 also shows a steady diversification of the BCH miners in 2019 as now there are roughly 14 known mining pools on any given day. Moreover, 16 percent of the BCH network consists of the unknown miners that could represent various smaller pools.


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