Research: payments in the Bitcoin Cash are not popular

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3 months ago
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Analysts of the Chainalysis startup conducted a study of the trade turnover of the major cryptoexchanges. They found a significant decrease in the volume of payments in the Bitcoin Cash currency, Bloomberg reports.

Since the beginning of this year, the price of Bitcoin Cash has fallen by about 75%. According to CoinMarketCap, it occupies the fourth line of the rating. The weighted average price of the coin at the time of publication is approximately $ 520.

After analyzing the turnover of the 17 largest cryptoexchanges’ payment services, including BitPay, Coinify and GoCoin, it became clear that Bitcoin Cash (BCH) payments significantly decreased. If in March Bitcoin Cash turnover was $ 10.5 million, in May it decreased to $ 3.7 million.

According to analysts, one of the reasons for the low adoption of Bitcoin Cash in e-commerce is “concentrated ownership” of coins. It is reported that more than half of the offer of this currency is in 67 wallets. At the same time, only two wallets store from 10 000 to 100 000 BCH.