If any cryptocurrency is making deliberate moves channeled towards a comeback, Bitcoin Cash is that cryptocurrency and its top proponents are increasingly creating a pathway for the possibility of this outcome.
More precisely, the Bitcoin Cash team is gearing towards increased adaptation values that are intended to make Bitcoin Cash the second or third most valuable cryptocurrency by market capitalization.
This new development was made known by the head of the Bitcoin.com Exchange David Shin, whose plans for Bitcoin Cash’s domination not only means that Ripple (XRP) and Ethereum (ETH) will have to give way for the BCH Coin, but that BCH’s market capitalization will more than double in order to achieve this milestone.
At press time, Ripple (XRP) and Ethereum (ETH) are sitting at a market cap of $10.96 billion and $19.31 billion respectively, against BCH’s market cap of $5.36 billion. And in the words of Shin;
“Within a year I want to make that the second or third largest market cap, To get from No. 4 to No. 3 or No. 2, we have to see more volume.”
How will this be made possible?
The execution of this idea mainly navigates around the birth of a Bitcoin Cash Futures, which according to Shin will be listed on one of the United States Commodity Futures Trading Commission’s Exchange and in the long run contribute largely to increased volumes amongst traders and institutional investors.
“We’ll try to list a BCH future on one of these exchanges that’s CFTC regulated to therefore have a product that can be traded into the U.S. with institutional traders, In theory, we should see more penetration, more users, more trading and more volume.” – David Shin
It would be interesting to note that this development precedes BCH’s recent North Queensland City conference where a $50 million worth tech park dedicated to BCH was announced to currently be in the works.
In conclusion, whether or not BCH meets up with its market capitalization goals, a massive increase in adaptation is expected to surface over time.