Bitcoin Cash experienced a notable surge, soaring over 10% following the completion of the blockchain’s network halving.
The digital asset, which has been on a consistent upward trajectory since the year began, has witnessed a remarkable 23% surge over the past week and an impressive 43% upswing in the last 30 days, according to data from CryptoSlate.
As of press time, BCH was trading at $673, its highest level since May 2021.
Market analysts have attributed this price spike in BCH to several factors, including its recent halving event and the current bullish sentiments surrounding the market.
Bitcoin Cash halving
Bitcoin Cash is a proof-of-work blockchain network that forked out of Bitcoin in 2017. The network was designed to facilitate faster and cheaper transactions. However, it has seen limited adoption from the crypto community.
In April 2020, BCH had its inaugural halving event, reducing miner rewards from 12.5 BCH to 6.25 BCH. This recent halving occurred at block height 840,0
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