Bitcoin Cash is the new Bitcoin, but it has yet to see the success that other altcoins have in countries where the virtual currency is legal.
The Philippine peso was trading at 0.967 per dollar on Tuesday, which is still a bit below the level where Bitcoin is trading, but still higher than the exchange rate of the world’s most popular cryptocurrency.
Pangasinan is one of the few areas in the country where Bitcoin Cash has seen a noticeable increase in trading volume in the past week.
Bitcoin Cash was trading around 2.5 times its value at the beginning of the week, while Bitcoin had traded between 3 and 4 times that in recent days.
But the cryptocurrency has yet, to see a significant market share in the first half of the year, as the peso continues to struggle to gain ground against Bitcoin Cash.
With so many countries that have legalized Bitcoin Cash around the world, the price is now being driven by demand in those countries.
The Philippines, however, is one that has seen Bitcoin Cash surge in value in recent weeks.
On Tuesday, a few hours after the Bitcoin Cash price hit a record high of 8,890.30 pesos ($17,300) on Bithumb, the currency reached a new record high at 8,988.35 pesos.
At the same time, Bitcoin Cash, which was trading above 9,000 pesos on Bittrex, has traded below 1,000 on the exchange, making it the only cryptocurrency that has traded at that level in the last six weeks.