Bitcoin Cash, DeepBrain Chain and Zclassic Double in Value
Bitcoin Cash (BCH), DeepBrain Chain (DBC) and Zclassic (ZCL) lead a list of coins that have more than doubled in value in just the last seven days.
Groestlcoin (GRS) and Bitcoin Private (BTCP) are also pushing through the stratosphere.
Here’s a look at just how much these coins have jumped, according to WorldCoinIndex.
Coins That Doubled in the Last 7 Days
Bitcoin Cash – 101%
DeepBrain Chain – 104%
Groestlcoin – 109%
Bitcoin Private – 121%
Zclassic – 157%
These coins were among the hardest hit during the bear market, so there isn’t a whole lot of news driving the price action. However, it’s a bit of a different story for Bitcoin Cash.
Bitcoin Cash Burning the Midnight Oil
The recent rise of Bitcoin Cash is partly attributed to a coin burning campaign from Antpool.
The mega mining pool recently announced it’s burning 12% of all the money it makes mining the Bitcoin Cash blockchain.
Some BITCOIN CASH (BCH) investors may have noticed that Antpool has recently begun burning BCH by sending mining fees to a black hole address with each block mined. Twelve percent of the transaction fees earned by… https://t.co/HKC4VAMPlA
— AntPool (@AntPoolofficial) April 20, 2018
Coin burns decrease the overall supply, which could in turn trigger a rise in price.
Detractors are calling the move a propaganda-laden PR stunt. Antpool is owned by Bitmain – one of the biggest Bitcoin miner and hardware manufacturers in the world.
The company was founded by Bitcoin Cash advocate Jihan Wu, a well-known and influential Bitcoin Cash advocate.