BIP 91 (SegWit2X) Locked in at 80% Miner Approval

This controversial BIP91 for SegWit2X has reached the necessary 80% miner support level. The proposal needs to maintain this same level of support for 336 blocks or roughly 56 hours in order to be activated on the Bitcoin network. SegWit2X voting was meant to start on the 21st of July, however, the proposal was put up for voting as a means to prevent the activation of BIP 148 UASF (User Activated Soft Fork) on August 1st, as the BIP is sure to cause a blockchain split due to the measures implemented by Bitmain, who launched an alternative Bitcoin client, dubbed Bitcoin ABC. This alternative client would ensure that SegWit would remain inactive in one blockchain while the BIP148 would see SegWit activate on the original Bitcoin blockchain.

As a result, cryptocurrencies are experiencing a fast-paced appreciation, following the downward trend previously experienced. Given the less-intrusive nature of BIP 91, when compared to BIP 148, traders and investors may feel more confident with their cryptocurrency holdings, a factor that is certainly fueling the current rally.