Bitcoin Cash Trading Escalates as Second Halving Event Nears
BCH
CRYPTO_NEWS
![](/static/0bc60a363d8078006e8877fe025ce003/5e535/93_BITCOIN_CASH_3fbad14807.png)
Bitcoin Cash (BCH) is experiencing a surge in trading activity and open interest ahead of its second halving event set for April 4, with open interest in futures perpetual contracts reaching a record high of $708 million, an increase from the previous peak in May 2021. The increase in open interest and trading activity is likely driven by traders securing positions in anticipation of the halving event, marked by a substantial amount of liquidation in both short and long positions on March 28. This event comes as Bitcoin Cash’s hash rate doubles, indicating a rise in mining efforts.
Source : Bitcoin News by Bitcoin.com / Mar 29, 2024