- A split in bitcoin into "bitcoin cash" took effect this morning.
- Bitcoin prices edged lower Tuesday morning.
- Futures for the new currency, "bitcoin cash," reversed earlier losses and shot higher.
Video : Bitcoin fork could split digital currencies 5 Hours Ago | 01:23
Bitcoin traded slightly lower Tuesday morning the digital currency miners officially completed the process to split the currency in two, according to Bitcoin Magazine.
Briefly jumped 48 percent to $ 422, before giving back much of that gains to trade of $ 317 at 11:19 a.m., ET, according to CoinMarketCap.
"Bitcoin Cash is one block behind," Bitcoin Magazine said on its liveblog at 9:24 a.m., ET. Ethereum creator Vitalik Buterin co-founded the magazine in 2012.
Bitcoin cash futures 1-day performance.
Bitcoin traded more than 5 percent lower near $ 2,724 after dropping to a low of $ 2,670 earlier in the morning, according to CoinDesk. The digital currency rose more than 10 percent in July and has more than doubled in value this year.
Ethereum traded 5.5 percent higher than $ 216, according to CoinDesk.
Digital currency "miners" could officially begin coding the new bitcoin cash blockchain after 8:20 a.m., ET Tuesday. Analysts had estimated the split into bitcoin and "bitcoin cash" would occur around 10 a.m.
Direct tickets of bitcoin should receive both versions of the currency after the split.
Bitcoin 1-day performance
Trading in bitcoin cash was still limited.
Bitcoin Magazine pointed out in its live blog that, due to the low level of mining power dedicated to bitcoin cash, "current estimates suggest it could well take hours before a [bitcoin cash] block is found." The block is part of the blockchain technology on which digital currencies like bitcoin are based.
Kraken Exchange, which has about 10 percent of U.S.-dollar bitcoin trade volume, announced in a tweet Tuesday at 9:35 a.m., ET, that "Bitcoin Cash (BCH) trading is now live!"
The exchange had a webpage listing bitcoin cash, but no trades were listed as of 10:13 a.m., ET.
However, Coinbase said it will not support the new bitcoin cash. The firm operates the GDAX exchange, which said in an email alert it has temporarily disabled bitcoin withdrawals and deposits Tuesday "in preparation for the upcoming fork."
Bitfinex, which has nearly a third of U.S.-dollar bitcoin trade volume, tweeted mid-Tuesday morning that it re-enabled bitcoin deposits and withdrawals. The exchange earlier suspended bitcoin deposits ahead of the split.
Bitfinex said in a separate blog post Tuesday that it will decide whether to list bitcoin cash "based on how the situation evolves."
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