Investing.com - Cryptocurrency prices fell on Tuesday, ahead of an upcoming split in the code of Bitcoin Cash, the fourth-largest digital asset by market cap.
Bitcoin dipped 0.60% to $6,439.90 on the Bitfinex exchange as of 8:56 AM ET (13:56 GMT), while Bitcoin Cash fell 1.73% to $534.61.
The digital coin is expected to hard fork, or split its code, on Thursday into two new tokens, the Bitcoin Satoshi Vision (SV) and Bitcoin ABC. Bitcoin Cash itself was created after a hard fork in Bitcoin.
Cryptocurrencies overall were lower with the total coin market capitalization at $212 billion at the time of writing, compared to $213 billion on Monday.
Ethereum,or Ether, decreased 1.29% to $211.12 and Litecoin was at $51.100, down 1.32%, while XRP rose 0.80% to $0.52665.
In other news, cash and gold-backed digital currency X8 received Sharia certification by the Shariyah Review Bureau for Islamic investors.
X8 currency is Ethereum-based and backed by eight fiat currencies and gold, aiming to “counter the inflationary headwinds experienced across the global markets.” The approval will help them expand into the Middle East market.
“With the changing environment of banking and asset management primarily due to fintech-driven shifts, the market for wealth preservation in Islamic finance is poised to see disruption and it is for this reason that we are seeing an increasing demand for our product in the Islamic markets,” said Francesca Greco, X8’s director, in a statement.