Bitcoin Cash (BCH) has lost the impact and popularity ever since the hard fork of November 15th brutally wiped out millions of dollars worth out of BCH’s volume. Similar to how Ripple (XRP) took over Ethereum to secure the second spot behind Bitcoin (Bitcoin), Bitcoin Cash has recently lost out to Litecoin.
The Crypto community is calling Litecoin’s emerging market capitalisation and Bitcoin Cash’s brutal fall a ‘Flappening.’ What’s with the name? Charlie Lee is nicknamed ‘Chikun’ hence the chicken flap description while a major market capitalisation is calling ‘Flippening. Thus it’s called a ‘Flappening.’’
At the time of writing, Litecoin is valued at $23.51 with a market capitalisation of $1,400,559,087 taking the ranking of 7th position. Bitcoin Cash, on the other hand, is valued at $79.91 with a market capitalisation of $1,399,398,649 and ranking in at 8th position.
Litecoin is seen to be just ahead of Bitcoin Cash in terms of market capitalisation.
It looks like Litecoin will stretch the gap between the market capitalisation of LTC and BTH given the emerging issues taking over BCH and Litecoin’s progress regarding adoption.
Bitcoin Cash is witnessed to fall less than Ethereum (ETH) concerning price.BCH’s price is $79.91 while Ethereum is $83.50. Ethereum has a circulating supply of 103.7 million while Bitcoin Cash has 17.5 million which emphasises the enormous beating BCH is facing.
Overall ETH has lost 94% of its all-time high (ATH) price while BCH has lost 98% of its ATH.
Litecoin, on the other hand, is engaging in various ways of increasing its adoption. One recent example is CoinGate which is the largest Crypto payment providers has enabled Lightning payments in Litecoin for 1000 merchants.
We are thrilled to announce that #LitecoinFoundation accredited CoinGate as the official, trustworthy #Litecoin payment processor! With the confidence of the Foundation, we continue our work on upcoming Litecoin’s #LightningNetwork. More info on that soon! pic.twitter.com/gRhOwftlsJ
— CoinGate (@CoinGatecom) November 9, 2018
It has become the go-to coin for microtransactions and is ideally used for online transactions. No wonder HTC Exodus allows clients to buy the Blockchain phone using LTC at a fixed price of 19.84 LTC.
Image Source – Pixabay
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