Bitcoin Cash markets experienced a huge dive in value this week as BCH dipped down to below $1400. However, as of Thursday afternoon it is resting at around $1300 and appears to be climbing a little from where it was earlier in the week. BCH trade volume has been around $650 million to $1 billion during this past week. The companies that have been trading the most Bitcoin Cash include Bitfinex, Hitbtc, GDAX, Huobi and Okex. The currencies being traded the most with Bitcoin Cash are BTC, Tether and USDT.
It helps that the Bitcoin Cash community has received a bunch of infrastructure support and new applications recently. For example, there is a new app named Cointext that is focused on providing the ability to send Bitcoin Cash through texts. The creators of this app explained that the texts work as on-chain transactions, like the tipping platform Chaintip. Yet, some BCH enthusiasts are skeptical of this app being secure when using text messages, due to how new the platform is. Only time will tell.
Another feature of BCH was announced earlier this week by Localbitcoincash exchange. The company has added Skycoin and Smartcash services to the platform. There are no fees on these types of trades, according to the developers.
“No fee exchange is exactly what it is, it’s totally free, and you can keep exchanging the different cryptocurrencies supported by our platform, and there are no trading fees involved,” explained Localbitcoincash.
On top of all this news, Openbazaar marketplace integrated Bitcoin Cash and Zcash into its latest 2.1.0 version.
“This release is the first step towards allowing more options for cryptocurrencies in Openbazaar — It includes native support for nodes using one cryptocurrency at a time, Bitcoin, Bitcoin Cash, or Zcash,” the Openbazaar developers shared.
AcceptBitcoin.Cash has also added to the BCH market by providing an adult section to the portal. The developers of the website think there is a need for adult merchants to begin accepting Bitcoin Cash.
So, after a grueling couple of weeks, it appears that the Bitcoin Cash market is beginning to pick back up and grow.