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Market cap is a somewhat flawed metric, I agree, and it should not be looked at in isolation. The daily volume tells you that Bitcoin Cash is traded (or maybe
by bhaak 9y ago
Market cap is a somewhat flawed metric, I agree, and it should not be looked at in isolation.
The daily volume tells you that Bitcoin Cash is traded (or maybe dumped?) quite a bit. It's volume is about that of LTC currently which really is not too shaby.
Don't forget that Bitcoin Cash was an as friendly fork as possible. I don't think anybody realistically expected that it would overtake Bitcoin right away. I'm not even sure if the initiators expect it to overtake Bitcoin at all. In a slightly conspiracy theoristic view, it might just have been a rehearsal for if the 2X part of Segwit2X doesn't happen and a hostile takeover might be tried.
Cryptocurrencies don't easily die and so far, Bitcoin Cash is doing okay. Calling it a failure at this point is premature.