Bitcoin News

Bitcoin’s Median Transaction Is 130 Times Larger than Forks Bitcoin Cash (BCH) or Bitcoin SV (BSV)

Carl T
April 15, 2019

According to Longhash, Bitcoin (BTC) median transaction value has reached 130 times the value transacted by Bitcoin Cash (BCH) or Bitcoin SV (BSV). In general, Bitcoin is compared to other virtual currencies, but Bitcoin Cash and Bitcoin SV are very similar to the most popular digital asset. Thus, it is somehow easier to make comparisons between Bitcoin and these other two cryptos.

Bitcoin Transacts Much More Value Than BCH or BSV

As BitInfoCharts shows, the median value of transactions that the Bitcoin network handled, was much higher than the one sent using Bitcoin Cash or Bitcoin SV. At the moment, the median value of transactions sent using Bitcoin Cash is 0.000045 BCH, close to $0.012. Meanwhile, the average BSV transaction is close to $1.17 with 0.017 BSV transacted.

Bitcoin’s median transaction is close to 0.04 BTC, meaning that the largest digital currency has a median tx of $152. According to LongHash, one of the reasons behind this difference could be related to the fact that Bitcoin uses batching. Batching is used by exchanges in order to reduce the number of transactions processed by the network. Thus it helps reduce space on the blockchain.

The other two digital assets, BCH and BSV, could be processing transactions that are related to other kinds of uses. While Bitcoin is used for larger transactions, BSV and BCH are used to do more on-chain things, such as social networking or playing some games.

Some individuals believe that the best way for virtual currencies is for them to be used as a store of value rather than as a means of payment. BCH and BSV proponents are in favor of using blockchain technology and digital assets to process a large number of transactions on-chain rather than off-chain.

At the moment of writing this article, Bitcoin is the largest of these digital currencies, followed by Bitcoin Cash and BSV. Bitcoin has a market cap of $91.11 billion, while Bitcoin Cash has a market capitalization of $5.65 billion. Finally, Bitcoin SV has a market valuation of $1.11 billion.

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP)

Carl T

Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.