BTCB2 Surges to $1,799 Amid Thin Liquidity Concerns

A Bitcoin fork called BTCB2 has been making waves in the crypto community after hitting an all-time high of $1,799 per unit against USDC on September 5.

The fork was created as a result of the BIP-110 fiasco that occurred last month, where Luke Dashjr and his group of Knots-aligned developers pushed a change that restricted non-monetary data. The majority of the SHA-256 hashrate did not agree with this plan, leading to a chain split at block 961632 on August 8.

The newly created fork struggled initially due to its difficulty in mining blocks, but after adopting the Blake2 hash function and shrinking its block size, it was able to start back up again. BTCB2 has since been listed on Neoxa Exchange and Nonkyc.io, with a fully diluted valuation of around $20.9 billion.

However, the asset's price and market cap are considered hypothetical due to thin liquidity and replay attack risks. The current prices may entice other trading platforms to list BTCB2, but its billion-dollar valuation looks shaky without real utility.