{"id":110833,"date":"2020-11-12T08:34:34","date_gmt":"2020-11-12T05:34:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/1-5m-bitcoin-cash-deposited-on-exchanges-as-fork-looms\/"},"modified":"2020-11-12T08:34:34","modified_gmt":"2020-11-12T05:34:34","slug":"1-5m-bitcoin-cash-deposited-on-exchanges-as-fork-looms","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/1-5m-bitcoin-cash-deposited-on-exchanges-as-fork-looms\/","title":{"rendered":"# 1.5M Bitcoin Cash deposited on exchanges as fork looms"},"content":{"rendered":"

“# 1.5M Bitcoin Cash deposited on exchanges as fork looms <\/strong>”<\/p>\n

Bitcoin Cash (BCH) hodlers are scrambling to get their coins onto exchanges ahead of the hard fork expected for Nov. 15.<\/p>\n

According to Chainalysis<\/a>, nearly $140 million worth of BCH has flowed<\/a> onto exchanges in just the past week, bringing November\u2019s total up to $300 million. Since the start of the month, more than 1.56 million BCH has been moved onto exchanges.<\/p>\n

As such, BCH in-flows to exchanges for the past 12 days have equated to nearly 6.4% of Bitcoin Cash\u2019s entire capitalization and supply.<\/p>\n

Bitcoin Cash in-flows to exchanges since August: Chainalysis<\/a><\/figcaption><\/figure>\n

While some onlookers have inferred the sizable in-flows to indicate Bitcoin Cash holders are looking to sell before the fork, Chainalysis\u2019 data shows Bitcoin Cash\u2019s trade intensity has largely been flat from late-October onwards.<\/p>\n

The Nov.15 fork is expected to usher in the dominance of Bitcoin Cash Node (BCHN), a community-driven implementation of BCH that emerged as internal tensions within the Bitcoin Cash community escalated throughout the year.<\/p>\n

In August, Amaury Sechet, the lead developer of Bitcoin Cash\u2019s historically dominant implementation \u2014 Bitcoin ABC, announced the protocol\u2019s scheduled November upgrade would include a new \u201ccoinbase rule\u201d requiring that miners divert 8% of newly minted BCH to a development treasury under his control.<\/p>\n

The BCHN implementation quickly emerged in protest, pledging to maintain the Bitcoin Cash protocol without forcing miners to sponsor development. Nodes running BCHN have mined 83.6% <\/a>of Bitcoin Cash blocks in the last seven days, suggesting Bitcoin Cash\u2019s future is firmly in the hands of BCHN.<\/p>\n

The futures markets are also backing BCHN to emerge as the dominant implementation come Nov. 15, with BCHN contracts trading for 0.96 BCH<\/a> on CoinEX. By contrast, BCHA futures \u2014 contracts for speculating on the price of a post-fork Bitcoin ABC \u2014 are trading for 0.047<\/a> of a BCH. <\/p>\n

While BCH has largely trended sideways against the dollar since May, Bitcoin Cash broke into new all-time lows relative to Bitcoin (BTC) over recent days.<\/p>\n