Following Poor Market Run, Ethereum (ETH) Price Finally Surpasses Bitcoin Cash (BCH)
Earlier this morning, the world’s third largest cryptocurrency by total market capitalization (ETH) was able to edge past Bitcoin Cash in terms of their overall values. To be even more specific, a few hours back, Ethereum was trading for around $85 while Bitcoin Cash was being sold for just over $80.
More On The Matter
Ever since the conclusion of the recent BCH hard-fork (which gave birth to BCH ABC and BCH SV), the price of Bitcoin Cash was found to have dipped below the $100 mark for the first time in its young history. Also, the hash war sparked by the recent split is being blamed for the ongoing crypto bear market— with many analysts now even going as far as saying that Bitcoin could stoop below the $3,000 mark in the coming few days.
If all this wasn't bad enough, it has also come to light that the folks behind Bitcoin Cash are now being faced with a lawsuit by United America Corporation, a blockchain tech company , that claims the recent fork was essentially a “hostile takeover of bitcoin cash by Roger Ver and his team”. Not only that, the lawsuit also alleges that with Bitcoin.com taking control of BCH, the firm now has unrestricted power to make decisions related to the currency’s future upgrades and implementations.
During the course of the past few months, there have been constant allegations that the Bitcoin Cash network is slowly becoming more and more centralized. For example, recently a pseudonymous developer who works for BCH came forth and accused his team of ‘centralizing the Bitcoin Cash blockchain’ by altering its permission protocols.
With that being said, it now remains to be seen how the financial future of Ether and Bitcoin Cash play out from here on end.