Altcoin fans are delighted after Bitcoin Cash (BCH) hit a three-year high of over $700 today; at the same time an ongoing ICO for a new VR token raised $4 million.
The last time BCH traded above $700 was on September 5, 2021, when the price was $711.56, according to data by CoinGecko.
Source: TradingView
Still, in the grand scheme of things, BCH’s current price of $672 is some 82% down from its all-time high of $3,785.82, set on December 20, 2017, following a Coinbase listing announcement.
Given the distance of 7 years and more than $3,000, Bitcoin Cash probably won’t set new all-time highs this year, even if Bitcoin does.
Bitcoin Cash has a Long History
Bitcoin Cash forked from Bitcoin back in 2017 after Bitcoiners formed two distinct factions around a software upgrade known as Bitcoin Improvement Proposal (BIP) 91.
The faction that became Bitcoin Cash were in favor of larger block sizes.
Larger block sizes allow the network to process more transactions per second, however, miners have to use greater hardware to mine blocks. This ups the mining entry level, making it only really viable for universities, private companies and other organizations to run nodes.
Bitcoin Cash came from the faction who see Bitcoin primarily as a means of paying for goods and services, unlike the prevailing philosophy among original Bitcoin maxis who see Bitcoin as a store of value.
Over on the trading chart, BCH grew steadily throughout February.
March’s gains were steeper, but the candles chart a more volatile course through the graph to the present day, where Bitcoin Cash is trading 4.4% higher than it was 24 hours ago as it outpaces market leaders Bitcoin and Ethereum.
BCH is currently trading above its 30-day moving average with a stable Relative Strength Index (RSI) reading of 52.
BCH Hits New Highs As VR Token 5SCAPE Collects $3.9 Million
Bitcoin Cash (BCH) has been around for years, so people know it and trust it. For many, it’s as solid as Bitcoin, Ethereum, Solana or XRP despite being an outlier from the top ten biggest by market cap.
However, crypto is a lot more than just a means of payment or a store of value. It’s also ushering in a new generation of web experiences, which supporters are hoping the world will soon know as “Web3” and the metaverse.
Those wanting to supplement their BCH holdings with something edgier may want to check out VR gaming token 5SCAPE. It has raised $3.9 million over four rounds of an ongoing ICO, putting it well over a quarter of the way towards its presale target $15 million.
The token currently changes hands at $0.00285, but this will rise 15% to $0.00327 when the fifth round begins after $5 million.
At the end of the presale, 5SCAPE will have a fixed listing price of $0.01, giving the token a potential prelaunch upside of over 250% to investors that buy in right now, before the listing.
Our presale has surged past stage 3!
Join us now and delve into a world of virtual reality with our multi-utility token.
Don’t miss out on being part of our vibrant community! #cryptocrash #cryptocrash #Wormhole #cryptocurrency #5thScape #Presale #4thstage pic.twitter.com/QeznEVAvFJ
— 5th Scape (@5th_scape) April 4, 2024
5SCAPE is the native utility token powering the world’s first Web3 crypto-powered VR gaming platform, the upcoming 5thScape.
5SCAPE holders get exclusive access to a wealth of hyper-realistic, immersive experiences in the form of VR games, educational resources, blockbuster movies, and more.
Early standout title Cage Conquest will arrive later this year. It’s a VR MMA fighting game that pits players against each other in heated simulated cage fights to earn crypto rewards.
Other announced titles that will come out around the launch include Epic Cricket Arena, Immersive Kickoff, Archery Master and Thrust Hunter.
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