Bitcoin Cash Gains Amidst Weak Crypto Market Sentiment

Bitcoin Cash (BCH) gained about 1% to $573.01 over the past 24h, reaching a new all-time high average transaction value of over $2 million on its network.

Trading at about $575 in the crypto market, BCH’s market capitalisation inched to $11.48 billion on Sunday, with about 18% decline in volume to about $400 million.

A recent increase in Bitcoin Cash’s hash rate suggests a potential price rise, but it has hit resistance as the rally has lost steam, with about a 2.5% weekly gain at press time.

A recent on-chain analysis reported that the average transaction value on the Bitcoin Cash (BCH) network has exceeded $2 million, the highest since BCH forked from Bitcoin in 2017.

According to…