It’s been three months since Bitcoin Cash underwent the most contentious hard fork since the one that brought about its own creation back in 2017. Weeks of jibes, insults and boasts between Bitcoin ABC and Bitcoin SV founders led to a fascinating battle to determine who would be able to rustle up the requisite mining power to be declared the ‘winner’. Now that the dust has settled sufficiently, we look back at how the two currencies have fared since the split and who, if either, can be declared the successor to the original Bitcoin Cash.
Bitcoin ABC has taken over the Bitcoin Cash mantle on most exchanges and coin index sites, representing a huge boost to their claims to be the ‘true’ Bitcoin Cash. For many, this said volumes about what the crypto movers and shakers thought about the two projects.
Bitcoin ABC has a current market cap of $2.15 billion, putting it currently in 6th place on the CoinMarketCap index. Bitcoin SV currently sits just outside the top ten, with a $1.14 billion cap, nearly half that of Bitcoin ABC. This is a truly remarkable difference that goes some way to showing where the support lies within the crypto community.
The early days of the split, where hash rates were monitored on an hourly basis, have long gone, and over the three months since, two clear patterns have emerged. Until mid-December the two coins frequently switched pole position, but since then Bitcoin ABC has, except for a few instances, maintained a lead over Bitcoin SV. While Bitcoin SV sometimes closes the gap, it is usually only for a spike before Bitcoin ABC stretches ahead again.
Price isn’t always a marker of quality in cryptocurrency, but with Bitcoin ABC presently valued at $122 and Bitcoin SV languishing at $64, it’s clear which the market thinks is the more valuable project.
7-day Trading Volume
Bitcoin SV has enjoyed a 7-day trading volume of $620 million, which is utterly swamped by Bitcoin Cash’s $1.9 billion, a 3x increase over its rival. This is another clear example of which coin traders favor.
Number of Markets
Once again Bitcoin ABC comes out on top here, with 233 pairings compared to Bitcoin SV’s 117. The increased number of pairings is representative of the demand to trade the token, showing once again that Bitcoin ABC is more in demand than its rival.
Bitcoin ABC Takes the Crown
As we can see, it doesn’t need a data scientist to work out that Bitcoin ABC is ahead on all fronts. Bitcoin SV co-founder Craig Wright called for time to make a definitive call after the early skirmishes, and his lack of comment on the Bitcoin SV project recently seems to coincide with his partner Calvin Ayre’s summation back in November that Bitcoin SV’s hopes of winning the war were gone. Whether we’ve seen the last of Bitcoin SV as a serious competitor to the Bitcoin Cash crown nobody knows, but for now Bitcoin ABC has the title sewn up.