At present, the whole cryptocurrency market is struggling to gain momentum. Bitcoin price has is hovering within $11k resistance, while few altcoins demonstrate positive momentum. According to CoinMarketCap, the total capitalization of all digital coins in circulation hit $287 billion.
At present, Bitcoin Cash is the leading Cryptocurrency in the top 10 crypto market with 7% growth.
At the time of writing, the Bitcoin cash price has increased by 7.21% against the USD, trading at $308.78. In term of BCH/BTC, the price surged by 2.14% trading at 0.02880423 BTC.
Currently, the coin is ranking at 5th position, holding market cap $5,525,464,513 with $1,908,094,816 24-hour volume and 17,894,300 BCH circulating supply.
Recently, Ethereum co-founder Vitalik Buterin announced to use Bitcoin Cash blockchain as a temporary scalability solution for the Ethereum network.
The Ethereum community has been working on Ethereum 2.0, a major network upgrade that is expected to come in early 2020. Buterin suggested incorporating other blockchains as a new option for improving Ethereum scalability in the short term.
In particular, vitalik claimed Bitcoin Cash blockchain is a perfect match for this purpose as BCH provides a data throughput of around 53 kilobytes (KB) per second.
Moreover, vitalik pointed out 3 other reasons for using the blockchain, including low fees, the readiness of necessary machinery and the Bitcoin Cash community’s openness to people using the blockchain.