Bitcoin Cash, the cryptocurrency that split from Bitcoin in 2017, has completed its second halving, resulting in a reduction in the number of miner rewards from 6.25 BCH to 3.125 BCH.
This move follows the first halving of Bitcoin Cash on April 8, 2020, which also reduced miner rewards by half from 12.5 BCH to 6.25 BCH.
Bitcoin Cash Price Trend
Bitcoin Cash is an offshoot of the parent proof-of-work blockchain network, Bitcoin (BTC), designed to offer faster and cheaper transactions. In the lead-up to the halving, Bitcoin Cash has seen a major price surge, with the price up 32% in the 30 days. However, at press time, the price of BCH had depreciated by 3% over the last 24 hours, being traded at $606.21.
Concurrently, BCH’s market capitalization and 24-hour trading volume dipped by 3% and 14.10% to $11,950,291,125 and $1,152,829,302, respectively.
Upgrades and Network Enhancements
Apart from the halving, Bitcoin Cash is preparing for a mid-May upgrade that is designed to introduce
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