Important facts:
- It is speculated that if bitcoin cash is considered a commodity, then its forks would also be considered a commodity.
- Bitcoin Satoshi Vision is another Bitcoin Cash fork that has seen a significant increase in price.
The price of eCash (XEC), the fork of Bitcoin Cash (BCH), moved from $0.000022 to $0.000036 in the last 24 hours. According to explorer Coinmarketcap, it represents a growth of over 50%, making it the top 100 highest-grossing cryptocurrency of the day.
eCash originated before Speculation it arose about something that could be considered a thing (goods or commodities) by the SEC (United States Securities and Exchange Commission). This theory, spread on social networks by some altcoin promoters, started with some statements made by Gary Gensler five years ago, which has attracted attention these days.
Gensler, who is the chairman of the SEC, said at the time Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) “No Beta Securities” (value securities). This means that, in the eyes of the body, such assets are viewed as commodities, unlike other crypto assets.
I miss these words these days SEC sued the exchanges binance or coinbase for allegedly violating securities laws, As reported by CriptoNoticias, the agency has accused him of illegally facilitating the buying and selling of crypto assets, which it believes to be unregistered securities.
According to the SEC, assets are divided between commodities and securities. The former includes physical goods or raw materials that are generally freely traded, such as gold, oil, corn, and bitcoin. Meanwhile, the latter represent an ownership interest in a company and are regulated, like stocks, bonds, mutual funds and some altcoins that were launched by pre-sales, promised profits to investors, or are highly centralized. Are.
Given this scenario, the four cryptocurrencies mentioned by Gary Gensler already registered higher prices. Among them, Bitcoin Cash stood out for the biggest rally last week with an appreciation of over 100%.
This also benefited the forks of this cryptocurrency. there are people who guess If bitcoin cash is considered a commodity, then its forks will also be considered a commodity. as eCash,
Similarly, the cryptocurrency Bitcoin Satoshi Vision (BSV), which spawned from another Bitcoin Cash fork, is up 20% in the past 24 hours. Thus, with eCash, they reached their maximum prices in about 4 months.
It should be noted that the fact that eCash and Bitcoin Satoshi Vision do not have such a large capitalization may have helped their rise. At the time of writing, these assets are ranked 63rd and 50th in the market capitalization rankings.
What is eCash (XEC)
eCash (XEC) is a cryptocurrency that emerged five years ago as bitcoin cash to be used as electronic money., Originally this asset was called Bitcoin Cash ABC, but due to differences between its developers they split and the name was changed.
Forks are events in which a blockchain splits into two different paths, thus creating a new cryptocurrency based on the original blockchain. This usually happens when developers and community members disagree on what updates or changes need to be made to the network.