Given the early post-hard fork performance, the race between Bitcoin Cash ABC and Bitcoin Cash SV has taken an interesting turn as of late, with the former shedding an increasing amount of market capitalization and the latter rebounding and recovering to the point that it is, at the time of writing, potentially on the verge of switching spots with ABC — which is now listed merely as “Bitcoin Cash” on most crypto exchanges.
At the time of writing, the prices stood at $114 and $101 respectively, marking a combined loss of hundreds of dollars from the pre-fork price of nearly $600. It seems that some of the money left altogether, with a total market downturn in the several billions, but what’s left in Bitcoin Cash is at present almost evenly split between the two options.
Bitcoin ABC Losing Ground
The initial post-fork confusion at exchanges lent neither side much credibility, but after a time most exchanges had decided that ABC fork would get the ABC ticker if anyone did, leading to Calvin Ayre’s concessionary piece in which he suggested that neither fork should have the title BCH or Bitcoin Cash. Now, both tokens are listed on most major exchanges, and the trading has led to some interesting results.
Bitcoin SV had seen about $40 million more in trading over the past 24 hours at the time of writing and still came out as a gainer by comparison to Bitcoin ABC, which effectively lost 14% while SV gained the same percentage.
The prospect of Bitcoin SV overtaking Bitcoin ABC and becoming the second or third by market capitalization and one of the top cryptos by price might be presenting itself as a reality soon.