The odds of a promising crypto-project going up in flames is a real possibility. Back in May, we had discussed the inevitability of various crypto tokens facing the bottom of the barrel due to changing monetary landscapes and structures.
However, we did not talk about some of the most popular coins today probably facing a gradual demise as well. Two of these projects reside in the top-six of the cryptocurrency charts. Any guesses? Does their name include the world’s largest digital asset? You bet it does.
Bitcoin Cash and Bitcoin SV: Expectations unmet by promises?
You can curse 2020 as much as you want. However, for a year that saw worldwide chaos involving a pandemic, forest fires, and inexcusable racial injustice, it was also the year digital assets announced their arrival after having survived one of the worst economic collapses in the past two decades.
We are not just talking about Bitcoin anymore. There was a sense of development around Ethereum, Cardano was ruffling a lot of feathers, and several altcoins such as Chainlink, Tezos, and Compound, recently, moved up in the rankings. Now, while these crypto-assets were occupied with their own developments, there was hardly anything new or relevant happening with Bitcoin Cash and Bitcoin SV.
The rankings are hardly justified in that case. BCH and BSV holding on to top position on the sole merit of their market cap begs the question – Are these cryptos still relevant?
Bitcoin Cash and Bitcoin SV were last relevant in the space when both the hardfork assets underwent their 1st-ever halving in the first week of April. Now, if you were active in the space during that time, you would remember that the coverage received by BCH and BSV was nothing similar to the one received by Bitcoin in May.
While people discussed Bitcoin’s halving in a positive light, expecting the price to undergo a long-term bullish rally afterward, almost nobody expected anything positive out of BCH and BSV’s halving.