• bitcoin

    Bitcoin (BTC)

    $ 4,120.40 3.83%
  • ethereum

    Ethereum (ETH)

    $ 157.72 6.59%
  • ripple

    XRP (XRP)

    $ 0.329789 2.76%
  • stellar

    Stellar (XLM)

    $ 0.093743 3.86%
  • eos

    EOS (EOS)

    $ 4.10 6.17%

Cryptocurrency

Bitcoin Cash SV begins to close price gap against Bitcoin Cash ABC as Craig Wright affiliated pools gain over 51% of Bitcoin Cash’s hash rate

On November 7, Poloniex announced that it would allow its customers to trade two pre-fork tokens prior to the upcoming Bitcoin Cash hard fork: Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV). Here is what the current data looks like.

The summary table is as follows:

As The Block previously reported, Bitcoin Cash SV was originally trading at 21% of Bitcoin Cash ABC's price. Four trading days later, Bitcoin Cash SV is now trading at 30% of Bitcoin Cash ABC's price.

One possible reason for this closing price gap is the market's acknowledgment that the three largest Bitcoin Cash mining pools (Coingeek, SVPool, and BMG POOL) are all associated with Craig Wright — the self-appointed leader of Bitcoin Cash SV. As of the time of this writing, these three mining pools have accumulated nearly 57% of Bitcoin Cash's hash rate, according to data from Coin Dance. A 51% control of the hash rate could allow Craig Wright and his associated to essentially determine what blocks get accepted to the Bitcoin Cash blockchain.