- A cryptocurrency that split away from bitcoin was temporarily the second-largest virtual currency by market value on Sunday.
- The market capitalization of bitcoin cash surged to more than $41 billion on Sunday at 2:29 a.m. ET, according to data by industry website Coinmarketcap.
- Bitcoin cash usurped rival digital coin ether — the digital token of the ethereum blockchain — becoming the second-largest digital currency by market cap for a number of hours.
- Vitalik Buterin, co-founder of Ethereum, congratulated backers of the bitcoin offshoot on Twitter.
- In response to a Twitter user that questioned the dominance of bitcoin, Buterin said: “A key reason why I am now so confident in crypto is precisely the fact that there are so many different teams trying different approaches.”
Bitcoin cash rallied after plans for a “hard fork” in the original bitcoin blockchain were called off.
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