Bitcoin Cash (BCH) transaction size increased & Why!

The average transaction size of Bitcoin Cash (BCH) has risen from $7,420 to $24,050 in the aftermath of Bitmain's controversy.Since the launch of Bitcoin ABC in 2017, Bitmain has long been a Bitcoin Cash backer. As of August 2018, as a co-owner of bitcoin.org and bitcointalk.org said, Bitmain kept over one million in BCH.

What might increase the size of the Bitcoin Cash transaction mean

This week, Bitmain's co-founder and former CEO, Jihan Wu, the world's largest manufacturer of cryptocurrency mining, reportedly ousted Micree Zhan, another company co-founder. Micree was forced out of the company in a "ugly" manner, according to local media and investors like Dovey Wan, founding partner at Primitive Ventures. She said the following: “Chinese news reported: according to who’s close to the matter, Micree was outcasted in an ugly way, he may consider dump BCH he owns .. which is 1.6M BCH total. This will be extremely irrational if true, it’s nuts.”

The increase in the average size of BCH transactions suggests that an rising number of investors are speculating on the potential effect that the shift in Bitmain's leadership might have on Bitcoin Cash's price.

Some believe that the abrupt alteration in the structure of the firm could endanger the company’s plans to initiate an initial public offering (IPO). Wan added: “According to public record, Jihan Wu took over Micree Zhan as the legal representative of Bitmain in China. Under China law, this means he serves as the legal embodiment of the company, which is a crucial role. Bitmain obviously can’t sit still while Canaan filed IPO.”

Some, like the above-mentioned co-founder of bitcoin.org and bitcointalk.org, said that Jihan Wu's "reappointment" as Bitmain's representative could be a good first step towards restoring the company's lost market share.

Congratulations to @JihanWu for coming back into his leadership role at BITMAIN. Now he can begin the tough job of gaining back all the market share BITMAIN lost to Halong Mining.

With the opinion of the public divided as to whether the implication of the Bitmain leadership change is a positive or a negative factor in the long-term growth trend of the firm, the rise in the average Bitcoin Cash transaction size shows that most investors expect it to have an impact on BCH in any way.

BCH up more than 30% in 7 days

BCH's price rose more than 30 percent against the U.S. dollar from around $220 to nearly $300 in the past seven days. So far, based on the asset's price trend, investors seem to be leaning towards the Bitmain fiasco as a larger holder of the digital asset, potentially having a positive effect on Bitcoin Cash

As of now, it remains unclear whether Bitmain would be able to proceed with its plans to IPO in the U.S. market, while its rival Canaan has already filed for an IPO on the Nasdaq.