Bitcoin Cash Shoots Past Ethereum to Second Biggest Cryptocurrency Position

After BTC to BCH became the most popular transaction on Shapeshift the exchange had to suspend Bitcoin trading.

Bitcoin Cash (BCH) has roughly doubled its price since we last reported on it on Friday. The price of the recently forked cryptocurrency has reached a price level near to $1800, giving it a market value of about $30 billion – 30% that of the original Bitcoin (BTC) and higher than Ethereum.

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Meanwhile the BTC/USD rate has been crashing, falling from a high of almost $8000 to under $6000. The reason most investors associate with this trend is that some backers of the now cancelled SegWit2x are switching their support to Bitcoin Cash. This in turn has lead for huge demand for BCH, mainly by Asian traders.

After BTC to BCH became the most popular transaction on Shapeshift, the instant exchange had to temporarily suspend Bitcoin trading due to a huge backlog of orders leading to a flood of complaints about delays from users.

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