{"id":31655,"date":"2020-11-12T11:31:18","date_gmt":"2020-11-12T09:31:18","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31655"},"modified":"2025-08-28T04:46:42","modified_gmt":"2025-08-28T01:46:42","slug":"users-move-1-million-bitcoin-cash-to-exchanges-ahead-of-hard-fork","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/users-move-1-million-bitcoin-cash-to-exchanges-ahead-of-hard-fork\/","title":{"rendered":"Users Move 1 Million Bitcoin Cash to Exchanges Ahead of Hard Fork"},"content":{"rendered":"<p>Over the past week, Bitcoin Cash (BCH) holders have moved more than 1 million coins (~$255 million) to cryptocurrency exchanges ahead of the upcoming November 15 hard fork in the network.<!--more--><\/p>\n<blockquote class='twitter-tweet'>\n<p dir='ltr' lang='en'>Over 1 million Bitcoin Cash has been sent to exchanges in the last seven days ahead of the hard fork on 15 November, driving the BCH price relative to BTC even lower.<\/p>\n<p>Track daily BCH exchange inflows here: <a href='https:\/\/t.co\/kxrZt6Jvai'>https:\/\/t.co\/kxrZt6Jvai<\/a> <a href='https:\/\/t.co\/SobmbY1eRK'>pic.twitter.com\/SobmbY1eRK<\/a><\/p>\n<p>\u2014 Philip Gradwell (@philip_gradwell) <a href='https:\/\/twitter.com\/philip_gradwell\/status\/1326452365004861440?ref_src=twsrc%5Etfw'>November 11, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src='https:\/\/platform.twitter.com\/widgets.js' charset='utf-8'><\/script><\/p>\n<p>The chart below shows a clear intensification of the trend of sending Bitcoin Cash to exchanges, beginning in mid-October. The seven-day average pace of these inflows over the last seven days was almost twice the pace typical for a 180-day period. According to the latest data, BCH inflows to exchanges over the last 12 days accounted for nearly 6.4% of the entire supply of the cryptocurrency.<\/p>\n<div id='attachment_116276' style='width: 1406px' class='wp-caption alignnone'><img loading='lazy' decoding='async' aria-describedby='caption-attachment-116276' class='wp-image-116276 size-full' src='https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-November-12-2020-11_17-AM.png' alt='Users moved 1 million Bitcoin Cash to exchanges ahead of hard fork' width='1396' height='637' srcset='https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-November-12-2020-11_17-AM.png 1396w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-November-12-2020-11_17-AM-300x137.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-November-12-2020-11_17-AM-1024x467.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-November-12-2020-11_17-AM-768x350.png 768w' sizes='auto, (max-width: 1396px) 100vw, 1396px' \/><\/p>\n<p id='caption-attachment-116276' class='wp-caption-text'>BCH flow dynamics to exchange wallets. Source: Chainalysis.<\/p>\n<\/div>\n<p>15 \u043d\u043e\u044f\u0431\u0440\u044f \u0432 \u0441\u0435\u0442\u0438 Bitcoin Cash \u0441\u043e\u0441\u0442\u043e\u0438\u0442\u0441\u044f \u0437\u0430\u043f\u043b\u0430\u043d\u0438\u0440\u043e\u0432\u0430\u043d\u043d\u044b\u0439 \u0445\u0430\u0440\u0434\u0444\u043e\u0440\u043a, \u0432 \u0440\u0435\u0437\u0443\u043b\u044c\u0442\u0430\u0442\u0435 \u043a\u043e\u0442\u043e\u0440\u043e\u0433\u043e \u0441 \u0431\u043e\u043b\u044c\u0448\u043e\u0439 \u0434\u043e\u043b\u0435\u0439 \u0432\u0435\u0440\u043e\u044f\u0442\u043d\u043e\u0441\u0442\u0438 \u043f\u043e\u044f\u0432\u0438\u0442\u0441\u044f \u043d\u043e\u0432\u0430\u044f \u0446\u0435\u043f\u044c Bitcoin Cash Node (BCHN). \u0412 \u0442\u0435\u0447\u0435\u043d\u0438\u0435 \u043f\u043e\u0441\u043b\u0435\u0434\u043d\u0435\u0439 \u043d\u0435\u0434\u0435\u043b\u0438 \u043e\u043d\u0430 \u044f\u0432\u043b\u044f\u0435\u0442\u0441\u044f \u0434\u043e\u043c\u0438\u043d\u0438\u0440\u0443\u044e\u0449\u0435\u0439, \u0443\u0432\u0435\u0440\u0435\u043d\u043d\u043e \u043e\u043f\u0435\u0440\u0435\u0436\u0430\u044f \u043f\u043e \u043a\u043e\u043b\u0438\u0447\u0435\u0441\u0442\u0432\u0443 \u043d\u043e\u0434 \u043a\u0440\u0443\u043f\u043d\u0435\u0439\u0448\u0438\u0439 \u043a\u043b\u0438\u0435\u043d\u0442 Bitcoin Cash ABC.<\/p>\n<div id='attachment_116277' style='width: 894px' class='wp-caption alignnone'><img loading='lazy' decoding='async' aria-describedby='caption-attachment-116277' class='wp-image-116277 size-full' src='https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-November-1-2020-11_17-AM.png' alt='Users moved 1 million Bitcoin Cash to exchanges ahead of hard fork' width='884' height='535' srcset='https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-November-1-2020-11_17-AM.png 884w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-November-1-2020-11_17-AM-300x182.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-November-1-2020-11_17-AM-768x465.png 768w' sizes='auto, (max-width: 884px) 100vw, 884px' \/><\/p>\n<p id='caption-attachment-116277' class='wp-caption-text'>Source: Coin Dance.<\/p>\n<\/div>\n<p>Futures markets also support BCHN as the dominant chain after November 15. Contracts <a href='https:\/\/www.coinex.com\/exchange?currency=bch&#038;dest=bchn&#038;tab=limit' target='_blank' rel='noopener noreferrer'>BCHN<\/a> are trading at 0.96 BCH, <a href='https:\/\/www.coinex.com\/exchange?currency=bch&#038;dest=bcha&#038;tab=limit' target='_blank' rel='noopener noreferrer'>BCHA<\/a> \u2014 0.047 BCH.<\/p>\n<p>Lead developer Amaury S\u00e9chet <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-cash-community-fractures-widen-as-amaury-sechet-lead-developer-of-the-largest-client-is-urged-to-step-down\">announced<\/a> a network upgrade in August this year. By November 15 all nodes must update the software, otherwise they will remain on the alternate chain.<\/p>\n<p>The upgrade will introduce a new difficulty-adjustment algorithm called ASERT. It is expected that, together with it, the issue of delays in block formation will disappear.<\/p>\n<p>Another innovation is the implementation of the Coinbase Rule. It will reject all blocks that do not allocate 8% of the rewards to the Bitcoin Cash development fund. This aspect sparked the main controversy \u2013 a substantial portion of the community disagreed with the proposal, releasing a BCHN client without support for this option in response.<\/p>\n<p>Earlier, the founder of Bitcoin.com and one of the main supporters of Bitcoin Cash, Roger Ver <a href=\"https:\/\/forklog.com\/en\/news\/roger-ver-announced-a-bitcoin-cash-fork-in-november\">stated<\/a> that on November 15 Bitcoin ABC and its lead developer Amaury S\u00e9chet will part ways with Bitcoin Cash.<\/p>\n<p>These words suggest that the Bitcoin Cash community will fight over which fork has the right to claim the Bitcoin Cash brand \u2014 Bitcoin ABC or BCHN.<\/p>\n<p>Poloniex, which ahead of the BCH and BSV hard forks had supported futures on both coins, has this time done the same by launching pre-fork trading.<\/p>\n<blockquote class='twitter-tweet'>\n<p dir='ltr' lang='en'>What will happen with the <a href='https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw'>#Bitcoin<\/a> <a href='https:\/\/twitter.com\/hashtag\/Cash?src=hash&#038;ref_src=twsrc%5Etfw'>#Cash<\/a> fork this month?<\/p>\n<p>Take your guess in our pre-fork markets \ud83c\udf74<a href='https:\/\/twitter.com\/search?q=%24BCHN&#038;src=ctag&#038;ref_src=twsrc%5Etfw'>$BCHN<\/a>\/USDT: <a href='https:\/\/t.co\/gxVPPPcTnt'>https:\/\/t.co\/gxVPPPcTnt<\/a><a href='https:\/\/twitter.com\/search?q=%24BCHA&#038;src=ctag&#038;ref_src=twsrc%5Etfw'>$BCHA<\/a>\/USDT: <a href='https:\/\/t.co\/UhlmwW432H'>https:\/\/t.co\/UhlmwW432H<\/a><a href='https:\/\/twitter.com\/search?q=%24BCHN&#038;src=ctag&#038;ref_src=twsrc%5Etfw'>$BCHN<\/a>\/BTC: <a href='https:\/\/t.co\/MnKikNFCXv'>https:\/\/t.co\/MnKikNFCXv<\/a><a href='https:\/\/twitter.com\/search?q=%24BCHA&#038;src=ctag&#038;ref_src=twsrc%5Etfw'>$BCHA<\/a>\/BTC: <a href='https:\/\/t.co\/3OxcPQo6kr'>https:\/\/t.co\/3OxcPQo6kr<\/a><\/p>\n<p>Learn more: <a href='https:\/\/t.co\/luCxpXKQ96'>https:\/\/t.co\/luCxpXKQ96<\/a> <a href='https:\/\/t.co\/6Ack5h5U7j'>pic.twitter.com\/6Ack5h5U7j<\/a><\/p>\n<p>\u2014 Poloniex Exchange (@Poloniex) <a href='https:\/\/twitter.com\/Poloniex\/status\/1323223860720902144?ref_src=twsrc%5Etfw'>November 2, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src='https:\/\/platform.twitter.com\/widgets.js' charset='utf-8'><\/script><\/p>\n<p>Other major trading platforms will support the chain only with the highest hashrate. This may explain the tendency of many users to sell the asset ahead of the hard fork.<\/p>\n<p>Binance has already announced that it will support the longer chain and credit the forked coins on a 1:1 basis. Deposits in BCH will be suspended on November 15 at around 10:00 UTC, with the hard fork expected to occur around 12:00 UTC.<\/p>\n<p>Subscribe to ForkLog news on <a href='https:\/\/www.facebook.com\/forklog' target='_blank' rel='nofollow noopener noreferrer'>Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the past week, Bitcoin Cash holders (BCH) moved more than 1 million coins (~$255 million) to cryptocurrency exchanges ahead of the upcoming November 15 hard fork in the network.<\/p>\n","protected":false},"author":1,"featured_media":31656,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[754,268],"class_list":["post-31655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-cash","tag-hardfork"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/31655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=31655"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/31655\/revisions"}],"predecessor-version":[{"id":31657,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/31655\/revisions\/31657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/31656"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=31655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=31655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=31655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}