Latest Coin Metrics research shows BCH and BSV still a long way behind Bitcoin

Coin Metrics's State of the Network report comparing Bitcoin with Bitcoin Cash and Bitcoin SV found that the two forks still have a long way to go before they can compete with any of BTC's metrics.

Analysis of Bitcoin forks shows Bitcoin dominates Bitcoin Cash and Bitcoin SV. Separated from Bitcoin to fulfill the original promise of being peer-to-peer electronic cash, Bitcoin Cash and Bitcoin SV set out to become a fast and cheap medium of exchange.

As almost two years have passed since the Bitcoin Cash fork, Coin Metrics decided to publish an in-depth analysis of the two works and compare their current state to that of Bitcoin.

While none of the data regarding Bitcoin came as a surprise, the numbers pulled for BCH and BSV were a real eye-opener.

Despite the hype surrounding BSV and a very strong BCH community, the two forks are having a hard time fulfilling their goals.

The report found that BSV and BCH have both had a median transaction fee of $0 for a majority of 2019, while BTC's median fee remained around $1 and $3 over the past three months.

The report found that a majority of BCH and BSV transactions do not transfer any value.

The daily adjusted transfer volumes for BCH and BSV peaked earlier in June at $325.5 and $144.2 million, respectively.

The report found that BTC has fluctuated between 600,000 and 1,000,000 daily unique active addresses for most of 2019, while BCH and BSV have remained below 100,000 and 50,000, respectively.

While the mining revenue for BCH and BSV has been slowly rising in the past year, Bitcoin still had "Millions more dollars of daily mining revenue than both BCH and BSV combined."Combined with the low fees, there is a real danger of miners abandoning these networks due to lack of incentives, which could, in turn, drastically reduce their already struggling hash rate.