Analysts from the Chainalysis conducted an analysis of the trade turnover of the largest crypto payment services and found a significant decrease in the volume of payments in the Bitcoin Cash. This is reported by Bloomberg.
There are fewer users of Bitcoin Cash, fewer holders.
Senior economist at Chainalysis
Since the beginning of this year, the price of Bitcoin Cash has fallen by about 75%. However, this cryptocurrency remains one of the largest. So, according to CoinMarketCap, it occupies the fourth line of the rating, and the market capitalization of BCH is $ 9 billion. The weighted average price of the coin at the time of publication is approximately $ 520.
After analyzing the turnover of the 17 largest crypto payment services, including BitPay, Coinify and GoCoin, it became clear that Bitcoin Cash (BCH) payments in this digital currency significantly decreased. If in March Bitcoin Cash turnover was $ 10.5 million, in May it decreased to $ 3.7 million.
According to Grauer, another reason for the low adoption of Bitcoin Cash in e-commerce is concentrated ownership of tokens. It is reported that more than half of the offer of this crypto currency is on 67 wallets. At the same time, only two wallets store from 10 to 100 thousand BCH.