Bitcoin Cash, Ethereum, and other altcoins follow Bitcoins lead and pump by more than 6% in under 2 hours
Although the price of each cryptocurrency should matter on its own status and developments in its own ecosystem, it doesnt. The price of altcoins is largely correlated to Bitcoins, which explains this pump in altcoins.
The second largest cryptocurrency, Ethereum, pumped by more than 7% in less than 2 hours, which was the same case for Bitcoin Cash. The price of Ethereum, at press time, was $249 and had a market cap of $26 billion.
Bitcoin Cash, the fourth largest cryptocurrency, pumped by 8% in under two hours. The price reached $385 and the market cap hit $6.7 billion.
The amount of Bitcoin Cash transferred in 24-hours was almost equivalent to its market cap, which is massive, and in simple terms, explains how Bitcoin Cash is better than Bitcoin in terms of scaling and transaction settling.
Other altcoins followed Bitcoins lead as they pumped; XRP, EOS, Litecoin, and Stellar Lumens surged by approximately 6% in less than 2 hours. However, Binance Coin didnt react to the pump in Bitcoins prices.Read full story on AMBCrypto