Since the beginning of August BCH has been growing above US $ 300, but at the same time the whales of Bitcoin Cash are decreasing. Why? Find out.

When a cryptocurrency increases in price considerably, one of the most common trends is to take advantage of it to obtain the benefits of an initial investment. This appeared to be the case for some Bitcoin Cash (BCH) whales. Find out the details.

Recently, BCH increased its price by almost 39%. After this, some people noticed that the number of Bitcoin Cash whales dropped from August 1. An example of this was Ali Martinez, a Twitter user interested in cryptocurrencies.

To be a Bitcoin Cash whale you must be an investor who has the equivalent of US $ 3 million in this cryptocurrency. That is, it has between 10,000 and 100,000 BCH.

It is estimated that 10 whales stopped being so after they sold their BCH when it exceeded US $ 311. Martnez added that, according to an analysis of the data provided by Santiment, the number of investors who have between 10,000-100,000 Bitcoin Cash (BCH ) decreased.

This reminds us that BCH is right now the fifth largest crypto asset by market cap at nearly $ 5.6 billion, with Bitcoin SV (BSV) trailing behind Chainlink with a capitalization of $ 4.1 million. All this according to CoinMarketCap.

At the time of writing, Bitcoin Cash is trading at $ 302.09, having risen 0.83% in the last 24 hours. However, if we look at the price graph in the last seven days we will see that the day with the most boom for this cryptocurrency was last August 7. At that time it reached US $ 323.72.

Despite what is happening to the price of Bitcoin Cash, perhaps the whales that sold are anticipating a price drop fueled by proposals to improve the difficulty adjustment algorithm of BCH.

Specifically, we are talking about a kind of tax that was previously called the Infrastructure Financing Plan (IFP) and that now reappears as a rule for the issuance of this cryptocurrency. What this measure does is impose a contribution of 8% on the rewards for each new block created.

Something that further increases the rejection of this measure is that it was approved without a voting process to obtain the opinion of the majority. Subsequently, users have highlighted that they do not trust the use that would be given to that fund.

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Bitcoin Cash whales are falling, why is it falling? - Somag News