Bitcoin
Is it too late to buy Bitcoin Cash? BCH Price Rises 11% as GambleFi Project Reaches $700,000 Milestone
Last updated: May 8, 2024 10:28 am EDT | 3 minutes reading
Bitcoin Cash ($BCH) price gains over the past seven days have surpassed market leaders Bitcoin and Ethereum.
Since Wednesday, May 1st, Bitcoin Money rose 11% to change hands at a current price of $453. In the same period, the token representing the original unforked Bitcoin The ledger, $BTC, is up 8% and is trading at $62,370 at the time of writing.
Ethereum ($ETH) is trailing both Bitcoin tokens this week. It added just 3.5% and currently trades at $2,999. It fell behind its number one competitor Solana ($SOL), which rose 19%, trading at US$146.
Based on its current price, Bitcoin Cash is trading above its three-month low of $350, but a far cry from its high of $700 over the same period. The coin is currently about $15 below its 30-day moving average.
This is likely due to a recent sell-off, as indicated by the fact that BCH’s relative strength index (RSI) is at 37 and falling, just 7 points shy of being oversold.
Bitcoin Cash ($BCH) is Bitcoin ($BTC) for payments
Bitcoin Cash ($BCH) and original Bitcoin ($BTC) are familiar. In fact, they were technically the same thing before 2017.
However, that year, Bitcoiners formed two distinct factions around a software update called Bitcoin Improvement Proposal (BIP) 91.
The faction that moved from Bitcoin to Bitcoin Cash was in favor of larger blocks, which reduced fees and allowed the network to process more transactions per second.
Although larger block sizes mean miners need more energy to do their business.
This makes mining really viable only for universities, private companies and other organizations.
The added speed has allowed Bitcoin Cash to become the go-to cryptocurrency for big block supporters, who view Bitcoin primarily as a means of payment.
The original Bitcoin maxis see Bitcoin more as a store of value.
Don’t just bet on Bitcoin Cash! Play with Megadice! Token launch
With a market cap of $9 billion, Bitcoin Cash ($BCH) is so firmly entrenched in the crypto market now that it’s hard to see a future where it delivers the returns of newer offerings.
There are many Web3 platforms and applications that suggest a bright and prosperous future for crypto, beyond simply payments or storing value. One of these applications is the GambleFi world.
GambleFi is a sector that is gaining more and more attention nowadays. The term refers to any crypto-native online gaming platform or product.
According to data from Statista, online gaming is expected to generate revenue of US$100.90 billion this year. This means there has never been a better time for crypto to show the world its iGaming utility.
A new ICO for the Solana GameFi Mega Dice (DICE) token began in mid-April and has already received more than $800,000 in investment, according to the token website.
Big data launched last year as the world’s first licensed crypto casino, accessible via the popular messaging app Telegram.
Since then, 50,000 players have signed up and helped the casino become a well-established name on GambleFi.
As the platform’s native token, players can fund games and receive earnings with $DICE.
$DATA Token launch! 🏆
The moment we have all been waiting for has finally arrived! O #DATA #TokenLaunch is LIVE! 🚀
If you participated in our presale, here’s how you can redeem your tokens:
– If you used SOL to purchase $DATAyou will receive an airdrop – sit back and relax!
– If… pic.twitter.com/l35GMlfj4w— Mega Dice Casino (@megadice) May 8, 2024
Casino customers who play with the token will get additional benefits in the future as the casino plans to integrate it into the loyalty program, offering more generous rewards to players who play with it.
The token will also unlock exclusive competitions and VIP experiences.
Lastly, Mega Dice has indicated that there will be a buy-back and burn program. This means that the casino will periodically purchase some of the tokens and remove them from circulation to keep them scarce, helping to increase their value.
Follow the news from Mega Dice at X/Twitter It is Telegram.
Participate in the pre-sale now at Mega Data website.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You can lose all your capital.