(Set 22, 2021) – For the third day in a row cash focused crypto currency eCash (XEC), a November 2020 hard fork of Bitcoin Cash, continued to flex its muscles vaulting to #33 on CoinMarketCap from #40 just a few days earlier. As of this writing XEC is up 12.89% over the past 24 hours at $.0002346.
Crypto coins Elrond, Monero, Crypto.com and EOS are, for now, in its rearview mirror as it closes in on Pancakeswap and Tezos. eCash has also given BCH a run for its money with its market cap recently reaching a new high of 40% of the BCH market cap.
Older sibling Bitcoin Cash (BCH) continued to show its age, dipping briefly below $500 yesterday. The coin is struggling to stay in the top 20 as it dropped to #18 earlier today after being flipped by proof of stake coin Algorand.
At one point yesterday the BCH/BTC ratio tumbled below 1.23%, an anemic ratio not seen since April 2021, suggesting that BCH is falling behind its big brother Bitcoin.
A recent article published by AMBCrypto and written by Saif Naqvi suggests that BCH may fall towards $400 in the coming weeks based on technical analysis.
Perhaps eCash (XEC) is following the age-old stock market adage of “climbing a wall worry”.
More likely the market is waking up to the new sound money properties being written into the eCash code by lead developer Bitcoin ABC.
The market is eagerly anticipating the integration of Avalanche before year-end, a post consensus protocol for securing the network by minimizing 51% attacks and, later, pre consensus Avalanche which will offer 2-3 second transaction confirmation times.
In November eCash hopes to host the first meeting of its General Network Council (GNC), a newly established governing body. And all the while it has been squirreling away funds allocated under the new protocol rule set to support critical infrastructure.
eCash appears well positioned for the future with a solid roadmap, a developer team led by the creator of Bitcoin Cash, Amaury Sechet; and the first of its kind melding of Avalanche with proof of work.
The above is opinion only and not financial advice.