The bitcoin cash (BCH) price endured a significant correction on Thursday as the fifth-largest cryptocurrency dropped 10.7-percent from its session high.
The BCH-to-dollar rate had surged around 100-percent since Monday morning, leaving its top rival bitcoin behind in terms of overall gains. The pair extended its rally towards $341.66 after the US market open yesterday. Later, it corrected to circa $280 in just two hours – its intraday low.
The next BCH flight was not much impressive, as it recovered a mere 8-percent against an overall 22-percent downside correction. As of 16:30 UTC, bitcoin cash was trading at $285.37.
Crypto exchanges posted BCH volumes worth about $3.89 billion, calculated in real-time per a 24-hour adjusted timeframe. Tether’s stablecoin USDT seized a majority of BCH spot trades, followed by South Korean Won and bitcoin.