Bithumb, Korea’s largest cryptocurrency exchange by volume, will be giving its clients 0-fee trading for 24h in tandem with the launch of Bitcoin Cash trading pairs. In today’s blog post, Bithumb said the promotion will only run for two days:
“Fee Free Event will be running from August 3rd (Thurs) 18:00 KST to August 4th (Fri) 18:00 KST”Additionally, Bithumb stated that Bitcoin Cash will have the “BCH” ticker, and not “BCC,” which is currently used by Bittrex, HitBTC, BitBay and Bleutrade.
Bithumb previously said that Bitcoin Cash trading will begin on August 3, but today, Bithumb explained that a new opening schedule will be released on Friday, August 4, 2017. The Korean exchange also said that trading, deposits and withdrawals of Bitcoin Cash have been delayed due to the unstable production rate of new blocks on the Bitcoin Cash blockchain:
“Up until August 3rd 12:00 KST, Bitcoin Cash has been showing instability on the block production or even on the deposit/withdrawal.”Although miners on the Bitcoin Cash network produced only three blocks on August 1st, as the special mining difficulty reduction algorithm was not activated, the rate of new blocks has picked up greatly over the past two days.
So far today, 19 new blocks have been found, and yesterday, miners produced 10 new blocks as the difficulty dropped off substantially, according to data from Blockdozer.com. At press time, the Bitcoin Cash blockchain is running at a quarter of the main blockchain's difficulty.
Majority of exchanges have already opened up Bitcoin Cash trading, however, many of BCH-supporting exchanges also made the decision to block traders depositing new coins until new blocks are found at a steadier pace.
At press time, the Bitcoin Cash blockchain is valued at $7.1 billion, according to CoinMarketCap, and one BCH will set you back about $433.
