- BCH/USD retreated from the recent high.
- A number of major announcements created a positive impulse for the coin.
Bitcoin Cash retreated from Monday’s high reached at $166.53 amid natural correction from overbought territory. BCH/USD is changing hands at $158.06, down 2.3% from this time on Monday. Despite the retracement, BCH is still the best-performing cryptocurrency on a weekly basis. The coin has grown by 25% in recent seven days.
What’s going on with Bitcoin Cash
Bitcoin Cash developers have launched Neutrino, a lightweight cryptocurrency wallet with enhanced privacy protection features. It is supposed to be fast and secure due to the client-side filtering feature. It helps to ensure that a user’s information won’t leak during a transaction to a third party service or clients.
“The way [client-side filtering] works is full nodes create a filter for each block in the chain “” You can think of a filter as an ultra-compact representation of all of the transactions in the block “” The nodes store these filters on disk along with the block. SPV wallets using Neutrino sync the full chain of headers like a normal SPV wallet, but they also download the filter for each block,” one of the developers explained
This news initiated Bitcoin Cash rally during the weekend, while Roger Ver’s announcement that the company was working on a “self-custodial escrow” solution created additional momentum for the coin.
BCH/USD, 1H chart
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