Bitcoin Cash Hits Record Market Share, Prepares to Reclaim $650 Level

▲ Bitcoin Cash (BCH)

Bitcoin Cash (BCH) is demonstrating a unique trajectory by breaking all-time records across multiple indicators despite the overall downturn and extreme fear in the cryptocurrency market.

According to BeInCrypto on February 18 (local time), the average transaction value on the Bitcoin Cash network has surpassed $2 million, marking an all-time high since it hard-forked from Bitcoin (BTC) in 2017.

Compared to last year’s average transaction value of around $20,000, this represents nearly a 100-fold surge. The sharp increase is interpreted as a strong signal that large investors are returning to the crypto market in significant numbers. Analysts suggest that whale investors are moving substantial funds, boosting overall network activity.

Even as capital continues to flow out of the broader market, Bitcoin Cash’s market dominance has strengthened. TradingView data shows that since last September, approximately $2 trillion has exited the overall cryptocurrency market, yet Bitcoin Cash’s market share has nearly doubled from 0.25% to 0.48%. This marks the highest level since the fourth quarter of 2024 and indicates that most holders are maintaining their positions rather than selling amid the downturn.

Behind the accumulation trend is growing anticipation for the upcoming Layla upgrade. Bitcoin Cash developer Jason Dreyzehner stated that the upgrade will enhance token utility, increase resistance to quantum computing threats, and significantly improve privacy features. As expectations for technological innovation rise, discussions around Bitcoin Cash have intensified among investors, leading to increased buying pressure.

In terms of price performance, Bitcoin Cash has maintained a solid range around $560 for several months. BeInCrypto forecasts that if the recent upward momentum continues, the price could rise to $650 in the short term. With strong support levels established and technical indicators pointing upward, the possibility of further price expansion is considered high.

Considering that previous surges in average transaction value preceded major rallies in 2018 and 2021, global investors are closely watching whether the current record-breaking indicators signal the onset of a new bull market. These unusual metrics emerging at the tail end of a downturn suggest that Bitcoin Cash could become a leading asset in the next market cycle.

Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses incurred based on its content. The information provided should be interpreted for informational purposes only.