Rising open interest indicates higher inflows and improved sentiment.Open interest in futures tracking Bitcoin Cash tokens has surged to May 2021 levels as the Bitcoin offshoot network experiences a revival of activity and value., data shows, becoming one of the top-performing tokens above a $1 billion market capitalization. Bitcoin and ether added 13% and 8% respectively in this period.
A network upgrade and an influential exchange listing have likely served as two key catalysts for the sudden trading interest in BCH. Other improvements were the introduction of smaller transaction sizes – which help speed up transactional times – and smart contracts functionality that will allow Bitcoin Cash-based applications to offer recurring payments, derivatives trading, and crowdfunding opportunities, among other uses, to Bitcoin Cash users., according to crypto research firm Santiment.
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