Tuesday, 28 May 2024

Crypto News

Investors optimistic on MEDA presale as Bitcoin Cash and Ethereum Classic register gains

Investors optimistic on MEDA presale as Bitcoin Cash and Ethereum Classic register gains

  • Bitcoin Cash gets a 21% boost following BCH halving
  • Ethereum Classic coasts to profits as ETC records double-digit monthly gains.
  • Milei Moneda ($MEDA) is set to join the DeFi crypto list.

As the Bitcoin halving draws ever closer, Bitcoin Cash had its own halving event this week, which saw BCH spike by 21% to reach a two-year high. 

Meme coins have also seen a significant surge this year. They have been present in every price pump and coin rally, and this time, it’s the new meme coin Milei Moneda ($MEDA) that is joining the top crypto coins in the last lap.

BCH investments: hit or miss?

Bitcoin Cash is a direct fork from the Bitcoin protocol, breaking off in 2017 to stand alone. It has almost always been in the crypto giant’s shadow. That might be beginning to change though, as both protocols are sharing the spotlight this month with their own halving events. 

While the bigger Bitcoin halving event is still a few weeks’ away, Bitcoin Cash’s halving took place this week, and it might be an indicator of what traders should expect from Bitcoin itself.

Bitcoin Cash’s halving means fewer BCH tokens now enter circulation from the mining operations. This increased scarcity pushed BCH to climb by 21% following its halving, reaching a new two-year high. Bitcoin Cash might just be one of the top cryptos to invest in.

Ethereum Classic: following Ether’s path, moderate gains at a time

The Ethereum Classic network is in the same shoes as Bitcoin Cash–except for the halving events–and one could wonder if Bitcoin Cash’s spikes aren’t influencing the ETC altcoin price, too. The past four months have seen Ethereum Classic display resilience in breaching its resistance levels, and ETC and investors are happier about it.

Ethereum Classic profited from Solana meme coins’ airdrops in December, and when news of the proposed Ethereum ETFs hit the market, the ETC price closely followed Ethereum’s surge. The biggest gains for ETC have come between February and March, as Ethereum Classic is already on 43% profits from the past 30 days. 

Price corrections could be due at any time, but ETC investors are putting in the work as Ethereum Classic stands before yet another resistance milestone. Scaling this could see an additional 27% spike before the Bitcoin halving; Ethereum Classic is definitely one of the best cryptos to buy right…

Click Here to Read the Full Original Article at CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison…