Open interest in futures tracking Bitcoin Cash has surged to May 2021 levels as the Bitcoin offshoot network experiences a revival of activity and value. By shauryamalwa.
Rising open interest indicates higher inflows and improved sentiment.Open interest in futures tracking Bitcoin Cash tokens has surged to May 2021 levels as the Bitcoin offshoot network experiences a revival of activity and value., data shows, becoming one of the top-performing tokens above a $1 billion market capitalization. Bitcoin and ether added 13% and 8% respectively in this period.
A network upgrade and an influential exchange listing have likely served as two key catalysts for the sudden trading interest in BCH. Other improvements were the introduction of smaller transaction sizes – which help speed up transactional times – and smart contracts functionality that will allow Bitcoin Cash-based applications to offer recurring payments, derivatives trading, and crowdfunding opportunities, among other uses, to Bitcoin Cash users., according to crypto research firm Santiment.
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