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Cryptocurrencies/Coins/Bitcoin Cash (BCH)
Bitcoin Cash price, market cap on Coin360 heatmap

Bitcoin Cash(BCH)

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$112.271
(0.81%)
0.00652234 BTC
Market Cap (Rank#28)
$2,160,892,488
125,537 BTC
Vol 24h
$66,225,563
3,847 BTC
Circulating Supply
19,247,200
Max Supply
21,000,000
2 days agocryptodaily
DeFi Protocol Ankr Hit By Multi-Million Dollar Exploit
With the crypto industry’s focus on the FTX fiasco, DeFi hackers have been making merry, hitting Ankr, and as per information available, stealing $5 million. Hackers were able to exploit an unlimited minting bug. The DeFi protocol stated it is working with exchanges to mitigate the hack’s impact. Ankr Falls Victim To Exploit Ankr, a BNB Chain-based decentralized finance (DeFi) protocol, has confirmed that it has fallen victim to a multi-million dollar exploit. The attack occurred on the 1st of December and was discovered by on-chain security analyst PeckShield on the 2nd of December. Ankr confirmed the developments shortly after, stating on Twitter that hackers had managed to exploit the aBNB token. They also announced that they were working with exchanges to halt trading of the token in question. “Our aBNB token has been exploited, and we are currently working with exchanges to immediately halt trading.” Details Of The Hack According to the available details, the hacker was able to mint 20 trillion Ankr Reward Bearing Staked BNB (aBNBc) thanks to a vulnerability in the smart contract for the token. “Our analysis shows the $aBNBc token contract has an unlimited mint bug. Specifically, while mint() is protected with onlyMinter modifier, there is another function (w/ 0x3b3a5522 func. signature) that completely bypasses the caller verification to have arbitrary mint !!!” PeckShield reported that the hacker had transferred around 900 BNB, worth around $253,000 into Tornado Cash. Additionally, the exploiter also bridged USDC and ETH to the Ethereum blockchain. According to PeckShield, the hacker holds 3000 ETH and around 500,000 USDC. The 20 trillion aBNBc tokens held by the attacker make them the 13th largest holder of the token. The aBNBc token is the reward-bearing token for BNB tokens staked on the Ankr platform. Vulnerabilities In The Smart Contract Code Blockchain security firm Beosin confirmed the source of the exploit, stating that it was likely due to vulnerabilities in the smart contract code, along with compromised private keys. According to Beosin, these vulnerabilities could have emerged from a technical upgrade carried out by Ankr. “@ankr has been exploited. $aBNBc has dropped -99.5%. The hacker minted tons of $aBNBc and made a profit of 5,500 BNB (~$1.6 million). The deployer changed the implementation contract to the vulnerable contract address before the attack (possibly due to private key compromise).” A spokesperson for the security firm stated, “It is possible that the deployer’s private key was exposed in this upgrade, leading to an attacker using deployer privileges to modify the contract.” Binance Investigating The Exploit Binance, in a post on the 2nd of December, confirmed that its team was engaged with Ankr and other related parties and was investigating the matter further. It also added that no Binance user funds were at risk. “We are aware of the attack targeting @ankr’s aBNBc token. Our team is engaged with the relevant parties and @BNBCHAIN to investigate further. This is not an attack against #Binance, and your funds are SAFU on our exchange. This thread will be updated should there be any updates.” ANKR And BNB Price Drops As a result of the developments, both ANKR and BNB saw a considerable drop in price. At the time the news of the exploit broke, the ANKR token dropped around 6.6%, falling to $0.0211. However, it has since recovered and is currently trading at $0.0216. The token is already over 90% down from its all-time high of $0.213. The BNB token also dropped, falling by 3.1%. However, this decline was attributed to a wider decline in the crypto markets. DeFi hacks had shot up drastically over the past couple of months, with October becoming the worst month in DeFi history. Several DeFi protocols, such as the Ethereum Alarm Clock Service, Polygon’s QuickSwap, Mango Markets, and others, fell victim to exploits. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
3 days agocryptodaily
Coinbase Wallet Delists Four Tokens, Crypto Daily TV 1/12/2022
In Todays Headline TV CryptoDaily News: Coinbase wallet ends support to certain tokens. Coinbase Wallet will no longer support the native tokens associated with Bitcoin Cash, Ethereum Classic, Ripple's XRP, and Stellar, effective December 5th, according to an update on the crypto exchange's website. Brazil legalizes crypto as a method of payment. Brazil has not designated Bitcoin as legal tender, but it did the next best thing: it passed a law legalizing cryptocurrencies as means of payment throughout the country, giving a regulatory boost to the adoption of digital currencies and the expansion of the ecosystem. Binance enters Japanese market. Binance has bought Sakura Exchange BitCoin, a Japanese crypto exchange regulated by the country's Financial Services Agency, for an undisclosed sum. With the acquisition, the world's largest crypto exchange entered the Japanese market, adding it to the now substantial list of countries with some degree of regulatory authorization. BTC/USD exploded 4.1% in the last session. The Bitcoin-Dollar pair exploded by 4.1% in the last session. The CCI indicates an overbought market. Support is at 15928.6667 and resistance is at 16798.6667. The CCI points to an overbought market. ETH/USD exploded 6.6% in the last session. The Ethereum-Dollar pair exploded 6.6% in the last session. The CCI indicates an overbought market. Support is at 1134.21 and resistance is at 1267.661. The CCI is signalling an overbought market. XRP/USD skyrocketed 2.8% in the last session. The Ripple-Dollar pair gained 2.8% in the last session after rising as much as 3.2% during the session. The ROC gives a positive signal. Support is at 0.3748 and resistance is at 0.415. The ROC is currently in the positive zone. LTC/USD exploded 3.3% in the last session. The Litecoin-Dollar pair exploded 3.3% in the last session. The MACD is giving a positive signal. Support is at 71.551 and resistance is at 79.731. The MACD is currently in the positive zone. Daily Economic Calendar: JP 10-y Bond Auction The auction sets the average yield on the bonds auctioned off. Yields are set by bond market investors, and therefore they can be used to estimate investors' outlook on future interest rates. Japan's 10-y Bond Auction will be released at 03:35 GMT, the US Initial Jobless Claims at 13:30 GMT, and Germany's Retail Sales at 07:00 GMT. US Initial Jobless Claims The Initial Jobless Claims measure the number of people filing first-time claims for state unemployment insurance. DE Retail Sales Retail Sales measure the total receipts of retail stores. Monthly percent changes reflect the rate of change of such sales. NL Markit Manufacturing PMI The Manufacturing Purchasing Managers Index (PMI) captures the business conditions in the manufacturing sector. The Dutch Markit Manufacturing PMI will be released at 08:00 GMT, the UK's 30-y Bond Auction at 10:30 GMT, and Japan's Jibun Bank Manufacturing PMI at 00:30 GMT. UK 30-y Bond Auction The auction sets the average yield on the bonds auctioned off. Yields are set by bond market investors, and therefore they can be used to estimate investors' outlook on future interest rates. JP Jibun Bank Manufacturing PMI The Jibun Bank Manufacturing PMI gives an early snapshot of the health of the Japanese manufacturing sector. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
5 days agocryptopotato
Coinbase Wallet Is Dropping Support For XRP, BCH, XLM And ETC
Coinbase is dropping support for Bitcoin Cash, XRP, Stellar Lumens, and Ethereum Classic after reporting a major drop in interest and use from its clients.
5 days agocoindesk
Coinbase Wallet to End Support for Bitcoin Cash, Ethereum Classic, Ripple's XRP and Stellar's XLM
Coinbase will end support for the tokens associated with Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple (XRP) and Stellar (XLM) from its wallet service, according to an update on the company's website.
5 days agocointelegraph
Coinbase Wallet will stop supporting BCH, ETC, XLM and XRP, citing 'low usage'
The crypto wallet plans to stop support for the four tokens on Dec. 5, but added any remaining funds would still be tied to users' existing addresses.
15 days agocryptopotato
Saint Kitts and Nevis to Make Bitcoin Cash Legal Tender in 2023
The Prime Minister Terrance said Saint Kitts and Nevis will engage with Bitcoin Cash mining and make BCH legal tender by March 2023.
20 days agocointelegraph
Caribbean nation St. Kitts & Nevis may adopt Bitcoin Cash as legal tender by March 2023
The country’s prime minister says it is consulting on the introduction of Bitcoin Cash on a legal basis, in spite of being within the territory of pioneering CBDC DCash.
20 days agocoindesk
Bitcoin Cash Could Be Legal Tender in St. Kitts by March, Prime Minister Says
The Caribbean nation could join El Salvador and the Central African Republic in backing crypto
25 days agocoindesk
US Sanctions Several Individuals, Dozens of Bitcoin, Ether and Bitcoin Cash Addresses on Opioid Allegations
The U.S. Treasury Department's sanctions watchdog added three people to its blacklist, alleging they used crypto to facilitate the supply of illegal and synthetic drugs to the U.S.

About Bitcoin Cash

The live price of Bitcoin Cash (BCH) today is 112.271 USD, and with the current circulating supply of Bitcoin Cash at 19,247,200 BCH, its market capitalization stands at 2,160,892,488 USD. In the last 24 hours BCH price has moved 1.1303 USD or 0.01% while 64,264,844 USD worth of BCH has been traded on various exchanges. The current valuation of BCH puts it at #28 in cryptocurrency rankings based on market capitalization.

Learn more about the Bitcoin Cash blockchain network and how it works or follow the price of its native cryptocurrency BCH and the broader market with our unique COIN360 cryptocurrency heatmap.

Although Bitcoin is widely perceived as the gold standard of the crypto industry, it has been criticized for technical shortcomings as the space has continued to grow. One of its major challenges has been its scalability, mostly given its hard-coded 1 MB block size. This means as the Bitcoin network grows, it also becomes a lot more congested and consequently expensive to transact on.

The discussion around this problem began as early as in 2010, as one of the solutions proposed was to increase Bitcoin's block size but there were those who did not support such a change. Tensions, however, peaked in mid-2017 when proponents of bigger blocks, hard forked Bitcoin to create Bitcoin Cash (BCH), with an 8 MB block limit. This was later increased to 32 MB in 2018.

Bitcoin Cash’s main aim is to realize Bitcoin’s original purpose of serving as a cheap ‘peer-to-peer electronic cash system’. It is supposedly dedicated toward this objective, and is open to increasing block sizes and transaction throughputs, whenever necessary and feasible. Unlike Bitcoin, Bitcoin Cash focuses more on becoming a medium of value exchange, rather than being optimized for secure value storage. BCH, the native coin of Bitcoin Cash works just like BTC, meaning it is p2p and can be paid by one person to another, without any censorship or intermediary.

BCH price

According to our BCH live price chart, BCH coin traded within the range of $200 to $700 from the time of its launch in July 2017 till November that year, when boosted by a bullish market, it registered noteworthy gains and peaked at an all-time high of $3,785 on Dec 20, 2017. BCH’s fully diluted valuation was over $79 billion at that point. A corrective phase followed and BCH price retraced to around $640 by April 10, 2018. It rose briefly a month later to breach $1,000, but gave into bearish pressure and continued falling — ending 2018 at $160.

While BCH coin regained some of its lost ground thereafter, it couldn’t break out of $500 resistance, for over 2 years. Its next big surge started around January 2021, when buoyed up by improved market conditions, it rallied on to reach $1,650 on May 12, 2021. However, a bearish phase followed again, returning the BCH price to under $500 territory by year-end. In 2022, BCH coin tested even lower support levels and fell further to under $200 by Q2, 2022.

How BCH works

Bitcoin Cash works a lot like Bitcoin. Both the blockchain networks have a maximum supply of 21 million coins and employ Proof of Work (PoW) consensus mechanism for the verification and processing of transactions. Network participants called ‘miners’ use special computing equipment to compete against each other, to discover and add new blocks to the Bitcoin Cash blockchain. These miners use the SHA-256 hashing algorithm, same as the one used in Bitcoin.  

One of the biggest differences between Bitcoin Cash and Bitcoin is how the difficulty level is adjusted for mining new blocks. While in Bitcoin's case, this adjustment is made after every 2016 mined blocks, Bitcoin Cash adjusts its difficulty level every 10 minutes, to provide a more updated insight into its computing power requirement. 

BCH holders can send and receive coins with the help of a unique public key associated with their respective digital wallets. As its average transfer fee is as low as $0.01, with almost-instant settlements, BCH is actively used for micro-transactions, peer-to-peer payments, everyday transactions, international remittances and cross-border trade payments. The coin is also commonly used as a value storage medium.

BCH news, updates and highlights

The year 2020 saw multiple positive developments for BCH, including the launch of the Tether (USDT) stablecoin on the Bitcoin Cash network in March 2020. The largest stablecoin in the world by market cap, USDT, was implemented on the Bitcoin Cash chain, using the SLP (Simple Ledger Protocol) token standard. SLP standard is to Bitcoin Cash what ERC-20 is to Ethereum. As a result, people could now transact USDT coins on the Bitcoin Cash blockchain, apart from other popular networks like Tron, Ethereum, Omni, Liquid Network, EOS and Algorand.

In more recent BCH news, the Bitcoin Cash network underwent a major upgrade on May 15, 2021, resulting in a variety of changes to the blockchain, including enabling of multiple OP_RETURNS, removal of unconfirmed transaction limit, making new mining block default limit size as 8 MB, inclusion on Cash Improvement Proposals (CHIPs) and implementation of double-spend proofs.

Frequently asked questions about BCH

  • Can you mine or stake Bitcoin Cash?
    As Bitcoin Cash uses a Proof of Work consensus algorithm, you can participate in its mining network and mine new BCH coins.

  • What are some of the best BCH wallets?
    Bitcoin Cash's official website recommends various crypto wallets for BCH storage, including BitPay, Melis Wallet, Pokket, Trezor and Ledger.

  • What can you do with Bitcoin Cash?
    You can use BCH as a value storage medium or for making peer-to-peer payments to others. Many people also trade it against other cryptocurrencies on established exchanges.

  • How can you buy BCH?
    The best way to buy BCH is through trading pairs like BCH/USDT, BCH/BTC, BCH/XRP, etc on well-known cryptocurrency exchanges.

Bitcoin Cash Price112.271 USD
Market Rank#28
Market Cap2,160,892,488 USD
24h Volume66,225,563 USD
Circulating Supply19,247,200 BCH
Max Supply21,000,000 BCH
Yesterday's Market Cap2,138,466,800 USD
Yesterday's Open / Close109.975 USD / 111.105 USD
Yesterday's High / Low111.793 USD / 109.948 USD
Yesterday's Change
0.01% ( 1.1303 USD )
Yesterday's Volume64,264,844 USD
Mining Info
Hashing algorithmSHA-256
Pools (known)26
Pools Hashrate613.70 PH/s
Network Hashrate1.69 EH/s
By MiningPoolStats
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