Bitcoin Cash

Litecoin

2024

Bitcoin

Read

Bitcoin Cash price crossed $280 on Feb. 12, as its 20% rally in the past week sent it soaring above Litecoin (LTC)&nbsp; in the race to reach $6 billion market capitalization in 2024. 
<a href="https://crypto.news/price/bitcoin-cash/" target="_blank" rel="noreferrer noopener">BCH</a> has gained momentum in recent weeks surpassing Litecoin in terms of market capitalization. What are the key factors driving Bitcoin Cash prices, and what to expect in the coming weeks? 
<h2 class="wp-block-heading" id="bitcoin-cash-has-flipped-litecoin-market-capitalization">Bitcoin Cash has flipped Litecoin market capitalization&nbsp;</h2> 
Bitcoin Cash and Litecoin are two rival Proof of Work networks hard forked from Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) to create a lightweight and more scalable peer-to-peer payment systems.&nbsp; 
Notably, the ongoing crypto market rally has sent mega cap <a href="https://crypto.news/glossary/proof-of-work-pow-in-cryptocurrency/" data-type="cn_glossary_term" data-id="14081204">Proof-of-Work</a> (PoW) coins including BTC and BCH into triple-digit price gains respectively. Meanwhile, <a href="https://crypto.news/price/litecoin/" target="_blank" rel="noreferrer noopener">LTC</a> has only mustered a modest 20% upswing between Oct. 16, 2023 and Feb. 14 2024. Litecoin price has struggled for momentum since its most recent halving in August 2023. Currently trading at $70, LTC price is down 30% from its pre-halving price.&nbsp; 
Bitcoin Cash on the flipside, has attracted the attention of large institutional investors in recent weeks. On Feb. 12, BCH price hit a new 2024 peak at $289.4, bringing its year-to-date gains to the 30% mark.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/5yB5jfg-AIXXYptB1b5wl7vzZv41BoJjuxkG6V2VMqzujogY3wwS_eKU6zk7S4p1R2W4rlPsCqgqAQQCbha1uumXsiZlv79C4Y_t8bSUf7iSXabAOd8nRj5gmdUoncCPfeQEN_N0kJggF96bzb3Gtb4" alt="Bitcoin Cash (BCH) vs. Litecoin (LTC)">
 <figcaption class="wp-element-caption">
 Bitcoin Cash (BCH) vs. Litecoin (LTC) Source: <a href="https://embed.santiment.net/chart?ps=bitcoin-cash&amp;pt=BCH&amp;df=2023-12-13T00%3A00%3A00.000Z&amp;emcg=1&amp;wm=marketcap_usd%3B%5B1%3Bmarketcap_usd%3Blitecoin%3BLTC%5D&amp;wax=0%3B1&amp;wc=%235275FF%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22filledLine%22%7D%3B%7B%22interval%22%3A%221d%22%7D" target="_blank" rel="noreferrer noopener">Santiment</a>&nbsp;
 </figcaption>
</figure> 
Importantly, looking beyond the short-term price swings, BCH has now overtaken LTC market capitalization. The Santiment chart below shows that BCH market cap climbed to a 2024 peak of $5.4 billion dollars before mild pullback sent it $5.3 billion at the time of writing on Feb. 14, while Litecoin ecosystem is currently valued at $5.1 billion.&nbsp; 
<h2 class="wp-block-heading" id="is-it-better-to-buy-litecoin-ltc-or-bitcoin-cash-bch-in-2024">Is it better to buy Litecoin (LTC) or Bitcoin Cash (BCH) in 2024? </h2> 
BCH has surpassed Litecoin in the race to reach the $6 billion valuation milestone. And considering the heightened trading volume and increased short-term price momentum in BCH looks set to stretch the lead further. 
Over the last 3 months, BCH has consistently recorded much higher spikes in trading volume than LTC. During the most recent upswing, Bitcoin Cash has reached a peak trading volume $730.4 million for February 2024 dwarfing LTC’s $315.5 monthly peak trading volume by more than 100%.&nbsp;&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/IkPsttzrqhBPwl7y2zjrR8U2lhxfJwYdLs_yW9iv6MEwP804lbG86MbMOk1vk_XHryfVuOAQW_dEI0jNdC39yl8zJfA_ALiErhGfg6Ta8Nm6NW5fgt6QOdFb6shutOFMLmgX_cS8omLCoV0PpDSDuP8" alt="Bitcoin Cash vs. Litecoin (LTC) Trading Volume">
 <figcaption class="wp-element-caption">
 Bitcoin Cash vs. Litecoin (LTC) Trading Volume | Source: <a href="https://embed.santiment.net/chart?ps=bitcoin-cash&amp;pt=BCH&amp;df=2023-10-02T00%3A00%3A00.000Z&amp;emcg=1&amp;wm=daily_trading_volume_usd%3B%5B1%3Bdaily_trading_volume_usd%3Blitecoin%3BLTC%5D&amp;wax=0%3B1&amp;wc=%235275FF%3B%23FFCB47&amp;ws=%7B%22node%22%3A%22filledLine%22%7D%3B" target="_blank" rel="noopener">Santiment</a>
 </figcaption>
</figure> 
LTC relatively flat price action, relatively lower daily volumes could prove dissuasive to swing traders. But in contrast, deeper inquest into the Bitcoin cash on-chain data trends further affirms that whale investors are piling into BCH, a move that will likely trigger another leg-up in the days ahead.&nbsp; 
In essence, a higher trading volume depicts greater market participation within the BCH ecosystem compared to Litecoin. Strategic investors could interpret this as a vital signal that BCH has better short-term price prospects than LTC.&nbsp; 
<h2 class="wp-block-heading" id="crypto-whales-could-trigger-bch-rally-with-11-6m-buying-spree">Crypto whales could trigger BCH rally with $11.6m buying spree </h2> 
Increased buying pressure from crypto whales is another critical factor that has propelled BCH ahead of LTC in the race to hit the $6 billion market valuation. Recent trends observed this week suggest more bullish action could follow for BCH price. 
Santiment supply-held by addresses chart tracks real time changes in the number of coins deposited in large-holder <a href="https://crypto.news/hedera-and-algorand-collaborate-on-decentralized-system-for-wallet-recovery/" target="_blank" data-type="post" data-id="14237185" rel="noreferrer noopener">wallets</a>.&nbsp; 
As seen below, whales holding balances of 100,000 BCH (~$250,000) have been on a steady buying spree in recent months. Between Jan 1 and Feb. 14, the whales have acquired a total of 50,000 BCH worth approximately $11.6 million when valued at the 10-day simple moving average price of $232 per coin.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/1Qog0ibYqqI1Uv3W6gt9nZryB_G3Gf7AHhRLuAiVk36BnUc5Xvv--ZiPqLnwLnvq_NmIPJFAJhfTaBztzBZQGeyXj2YUK1LAchUQ6Ds6gTCx1RgDfU42XXwKpLN6XxVUFq6pVz0wdv-SXx1AJJoLaUM" alt="Bitcoin Cash (BCH) price overtakes Litecoin in race for $6b valuation&nbsp; - 27">
 <figcaption class="wp-element-caption">
 Bitcoin (BCH) Whales Wallet Balances vs. Price | Source: <a href="https://embed.santiment.net/chart?ps=bitcoin-cash&amp;pt=BCH&amp;df=2023-12-21T00%3A00%3A00.000Z&amp;emcg=1&amp;wm=price_usd%3B%5B3%3Bholders_distribution_combined_balance%3B100_to_1k%3B1k_to_10k%3B10k_to_100k%3B100k_to_1M%3B1M_to_10M%3B10M_to_100M%3B100M_to_1B%5D&amp;wax=0%3B1&amp;wc=%2326C953%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" target="_blank" rel="noreferrer noopener">Santiment</a>
 </figcaption>
</figure> 
Notably, a closer look at the chart shows that whales have acquired 10,000 BCH, about 25% of the 2024 net-inflows in the last 4 days. This signals that crypto whales have intensified their buying pressure this week.&nbsp; 
Considering how the whales buying trends have been closely correlated to previous rallies, BCH price looks set to extend its lead over LTC in the days ahead.&nbsp;&nbsp; 
 Read more: <a href="https://crypto.news/bnbchain-unveils-secure-multi-signature-wallet/"> BNBChain unveils secure multi-signature wallet </a>

Bitcoin Cash (BCH) price overtakes Litecoin in race for $6b valuation

目錄

crypto.news

在 2024年2月14日發表的其他文章

Bitcoin Price Surge Triggers Massive Short Liquidations

Nym partners with Zcash to bring network-layer privacy protections

Analyst Unveils XRP's Historical Patterns and Signals Future Projection

Court clears Genesis to liquidate $1.3B worth of Grayscale GBTC shares

AMD and JR Kyushu Revolutionize Bullet Train Track Inspection with AI Technology

YouTube and Crypto Combine as DeeStream Presale Launches, Drawing LINK & ETH Holders

訂閱免費電子報，每天收取加密貨幣最新動態！