The value of assets under management for crypto fund manager Grayscale Investments' Bitcoin Greenbacks Trust has fallen $1.half-dozen one thousand thousand following the annunciation that the crypto asset would be forking on Nov. 15.

According to information from Coin Dance, the Bitcoin Cash (BCH) network has now split into ii blockchains. Currently, miner action appears to be favoring the community-driven Bitcoin Cash Node, or BCHN. Crypto exchange Binance's puddle was responsible for mining block 661,647 — the last common block earlier the fork.

At the time of publication, miners have mined roughly 27 blocks for BCHN and none for Bitcoin ABC, or BCHA.

Since the Nov. fifteen fork was announced, crypto users have generally been sending more BCH through exchanges, depositing more than $300 million of the tokens in November. While Grayscale has seemingly added to its holdings of BCHG shares in that time, the value of assets nether management in its Bitcoin Cash Trust has decreased. According to updates posted to the crypto fund manager's Twitter account, the firm had $46.viii million in assets under direction for the BCH trust on Friday, a driblet of $1.6 million since Nov. 9.

The BCHN fork emerged in response to Bitcoin ABC's announcement it would introduce a new "Coinbase dominion" diverting eight% of block rewards to a development fund controlled by BCHA lead developer Amaury Sechet. Proponents of BCHN have insisted the dominion is not needed, claiming they can fund the blockchain without this evolution or mining tax. BCHN's dominance in add-on to community support had suggested the fork would sally as the ascendant blockchain.

While the Bitcoin Cash cost has experienced volatility since the fork was kickoff announced, it surged to more than than $276 on Oct. 23 and has by and large been moving between a $230-$280 price corridor since falling more than 26% in early September. Bitcoin Greenbacks is currently trading at $245.87, having fallen 4% in the last 24 hours, while Bitcoin (BTC) slipped nether the $xvi,000 bulwark to $xv,903.