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Altcoin, including Dogecoin (DOGE), Litecoin (LTC) and DASH, outperformed Bitcoin Cash (BCH) in network business in December.
The Bitcoin Cash network has been launched in two chains: Bitcoin Cash ABC (BCH) and Bitcoin SV (BSV) on November 15th of this year. The drama of the fork has negatively affected the BCH network, even if the two chains together were on the same network once now are considered two completely different networks (the similar logic is also applied to all BTC forks).
The main reason why BCH broke away from the original BTC chain was to be a peer to peer for the world with lower commission and chain scalability. But it seems that Bitcoin Cash is not at the height of this vision and has even underperformed some of the altcoins like Dogecoin, Litecoin and Dash.
Bitcoin Cash (BCH) Underperforms Alts
Bitcoin Cash (BCH) has recorded transactions on lower chains in the last month compared to Dogecoin, Litecoin and Dash. In fact, Dogecoin has processed four times as many Bitcoin Cash payments. Blockmanity had already reported on Dogecoin that outperformed Bitcoin Cash even during the drama in November.
The Crypto Longhash research publication compares last month's transaction data between Bitcoin Cash, Dash, Dogecoin and Litecoin.
Image source: Longhash
Bitcoin Cash also has less active addresses than all three Altcoins.
Image source: Longhash
At some point in time, the BCH network had overtaken the BTC network in mining support and was worth a good part of Crypto's entire market capitalization. A year and a half later, BCH is not even remotely able to match the BTC network at the price or the network value. The Bitcoin network processes over 20 times the transactions and is 25 times larger than BCH in terms of market capitalization.
There's a reason why other networks have not even come close to replacing Bitcoin (BTC) even though they have better transaction speeds and lower rates, and this has to do with the value of a currency.
Although volatile, Bitcoin is even less volatile than other currencies. Bitcoin has existed longer and has more liquidity and brand value than any other cryptocurrency. This is not simply replaced by lower transaction fees or faster transactions and the evidence for this is clear.
Read also:
Bitcoin [BTC] has not yet touched the bottom, could go under $ 3000 that anticipate Anthony Pompliano
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