Before the hard split, traders deposited 1.56 million "Bitcoin Cash" on the exchanges

With the near full split of the Bitcoin Cash chain on November 15th, Bitcoin Cash traders have deposited more than $ 300 million in digital currency on exchanges since the beginning Month.

According to Chanalesis, nearly $ 140 million of Bitcoin Cash poured into the exchanges in the past week alone, bringing the November total to $ 300 million. Since the beginning of the month, more than 1.56 million Bitcoin Cash have been transferred on the exchanges.

As such, the inflows from Bitcoin Cash to exchanges over the past 12 days could equate to approximately 6.4% of Bitcoin's total capital and supply. Cash.

While some followers have deduced the large inflows to indicate that Bitcoin Cash owners are looking to sell before the split, the Channelysys data shows that Bitcoin Cash trading intensity has remained largely flat From late October onwards.

The hard fork is expected to begin on November 15, 2020 in the dominance of Bitcoin Cash Nude (BCHN), a community-driven implementation of Bitcoin Cash that has emerged with escalating internal tensions within Bitcoin Cash community throughout the year.

last August, Amore Secht, the lead developer of the historically dominant Bitcoin Cash app - Bitcoin ABC, announced that the protocol upgrade scheduled for November will include the Coin Rule. New biz requires miners to transfer 8% of their newly minted Bitcoin Cash into a development vault under their control.

The BCHN app quickly emerged in protest, pledging to preserve the Bitcoin Cash protocol without forcing miners to sponsor development. The nodes that operate BCHN have mined 83.6% of Bitcoin Cash blocks in the past seven days, indicating that the future of Bitcoin Cash is in the hands of BCHN.

futures markets are also supporting BCHN to emerge with the coming of the dominant execution on November 15th, with BCHN contracts trading for 0.96 Bitcoin Cash on CoinEx. In contrast, BCHA futures contracts - Bitcoin ABC speculative contracts - are trading for 0.047 Bitcoin Cash.

While Bitcoin Cash has traded largely sideways against the dollar since May, Bitcoin Cash has broken through its all-time low for Bitcoin (BTC) within days. The last.