As Bitcoin soars past $100,000 for the first time, its rally is reverberating across the cryptocurrency market, with Bitcoin Cash (CRYPTO: BCH) emerging as a noteworthy beneficiary.

Bitcoin Cash, a hard fork of Bitcoin created in 2017, was designed to address scalability issues and offer faster, cheaper transactions, making it ideal for day-to-day payments. Its foundational emphasis on utility positions it to capitalize on Bitcoin's renewed spotlight.

What To Know: Bitcoin's ascent, peaking at $103,679 before stabilizing near $102,450, marks a watershed moment in decentralized finance (DeFi), bolstering confidence in blockchain's mainstream potential.

As BTC solidifies its role as digital gold, Bitcoin Cash is attracting attention for its complementary focus on transactional efficiency. With growing merchant adoption and improvements in scalability through larger block sizes, BCH is increasingly viewed as a practical alternative for crypto payments.

Bitcoin Cash's price could benefit from heightened interest in decentralized assets, particularly among retail users seeking utility-focused cryptocurrencies. BCH's compatibility with the broader crypto ecosystem and its relatively lower price compared to BTC could make it an attractive option for traders and investors looking to diversify.

Price Action: Bitcoin Cash is up some 5% to $622.61 during Thursday trading.

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