According to the analytical website Santiment, at least 10 large holders of the Bitcoin Cash cryptocurrency sold their assets after the BCH rate increased by 38.7%.
Back on July 17, Bitcoin Cash was trading at $ 224, and by July 31, the rate of this cryptocurrency rose to $ 311. Against this background, the number of investors holding from 10,000 to 100,000 BCH in their wallets has significantly decreased.
“The Santiment data suggests that the pressure from Bitcoin Cash sellers has increased dramatically. The firm says the number of addresses storing between 10,000 and 100,000 BCH has dropped. About 10 of these whales have left the network, which is 5.6% of the total number of large cryptocurrency holders, ” user Ali Martinez writes on Twitter.
Recall that Bitcoin Cash is the fifth largest cryptocurrency, with a capitalization of $ 5.6 billion. The hash rate of the Bitcoin Cash network is only 5% of the hash rate of the Bitcoin network, so many analysts call it vulnerable to a 51% attack. At the same time, after the halving of the reward to miners, which took place on April 8, the hash rate of the network has significantly decreased .