Bitcoin forks BCH, BSC and XEC soared last month, but are the gains organic and sustainable?

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Bitcoin fork tokens rallied over the past 30-days but various data points suggest the movement was not based on fundamentals.

Among the top gainers in June, three Bitcoin forks populated the list, followed by Kaspa and FLEX Coin . FLEX benefited from its integration with Open Exchange, backed by co-founders of the bankrupt Three Arrows Capital digital fund.In comparison, Bitcoin’s monthly gains stood at 11.94%, as it traded above the $30,000 level for the first time since April 2023.to bankruptcy claim exchange, Open Exchange , in May 2023. The token’s price reached a 13-month high of $4.37 on June 27.

It represents a case of significant volatility in illiquid assets. Due to their limited liquidity, it can be easier to push the price of these coins compared to larger, more liquid assets. The total fees paid on the Bitcoin Cash blockchain has ranged lower than $200 since the start of the year, indicating that the blockchain’s usage has been limited.

 

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