After the astounding lead of Dogecoin recently, Ethereum Classic has successfully managed to rally to another all-time high. In addition, Bitcoin Cash has doubled in a short span of time. On the other hand, altcoin forks began to gain traction.
Both BTC and ETH are undeniably two of the leading cryptocurrencies. As a result, both the tokens are able to stay in the limelight and gain enormous attention from the popular media, retail investors, and institutional investors.
However, this popularity does not guarantee a competition-free market. Leading crypto also has to face occasional challenges from competitor networks.
A Forked Project Like Bitcoin Cash Rallying Up
BTC, as well as ETH, were intended to be challenged by 2 forked projects which were Bitcoin Cash and Ethereum Classic. During the last week, both Bitcoin Cash along Ethereum Classic have shown they are very capable of producing excitement and big gains.
According to the reports of TradingView Markets, the price of Bitcoin Cash has surged 125% within a span of 2 weeks. BCH price was raised on 16th April to a massive $1,175 from the $523 low on 4th April.
Moreover, ETC also demonstrated a rally of 250%. On 16th April it reached a staggering $46.53 which is their record high from the low $13.30.
BCH was intended to increase the size of the block and revolved around the scalability of the blockchain of BTC. Although BTC was forked due to the reason that there was a disagreement within the BTC community. BCH was created in order to execute the needed code updates.
BCH picked up its momentum from April as the crypto sector started its unprecedented journey upwards. With an increasing number of participants in the cryptocurrency market, ETC and BCH might experience further growth in price.