After BCH hard fork, Grayscale BCH Trust lost $1.6 million in value

Editor's Note: This article comes fromCointelegraph Chinese (ID: CointelegraphChina), Author: TURNER WRIGHT, reprinted by Odaily with authorization.

Editor's Note: This article comes from

Cointelegraph Chinese (ID: CointelegraphChina)BCH, Author: TURNER WRIGHT, reprinted by Odaily with authorization.forkAssets under management at Grayscale Investments’ Bitcoin Cash Trust dropped $1.6 million in value following the announcement of BCH’s Nov. 15 fork.

According to Coin Dance, Bitcoin Cash (

) network is nowforkfor two blockchains. Currently, miner action appears to be favoring the community-backed Bitcoin Cash Node (BCHN). The mining pool of cryptocurrency exchange Binance mined block 661647, the last block before the fork.As of the publication of this article, miners have mined about 27 blocks for BCHN and not a single block for Bitcoin ABC (BCHA).Since the fork was announced on Nov. 15, cryptocurrency users have

More BCH has been moving through exchanges

, transferred more than $300 million in BCH in November. While Grayscale appears to have increased its BCH holdings in BCHG during that time, the value of the assets under management in its BCH trust has declined. According to the latest news posted on the Twitter account of the crypto fund management company, last Friday the companymanaging$46.8 million in BCH trust assets, down $1.6 million since November 9.BTCThe emergence of the BCHN fork is a response to Bitcoin ABC's announcement that it will introduce a new "Coinbase Rule" that will hand over 8% of block rewards to a development fund controlled by BCHA lead developer Amaury Sechet. BCHN proponents insist that no rule change is needed, claiming they can fund the blockchain without requiring this development or mining tax. The dominance of BCHN and the support of the community indicate that BCHN will become the dominant blockchain.