Bitcoin traded slightly lower Tuesday morning as digital currency miners officially completed the process to split the currency in two, according to Bitcoin Magazine.

Futures for the new “bitcoin cash,” an alternative version promoted by a minority of developers, jumped 48 percent to $422 as of 9:31 a.m., ET, according to CoinMarketCap.

“A Bitcoin block was just mined that’s invalid for Bitcoin Cash nodes! [That] means the chain has now forked. Bitcoin Cash is one block behind,” the online magazine said on its liveblog at 9:24 a.m., ET.

Bitcoin traded more than 4 percent lower near $2,749 after dropping to a low of $2,680.85 overnight, according to CoinDesk. The digital currency rose more than 10 percent in July and has more than doubled in value this year.

Digital currency “miners” could officially begin coding the new bitcoin cash blockchain after 8:20 a.m., ET Tuesday. Analysts estimated the split into bitcoin and “bitcoin cash” would occur by around 10 a.m.

Direct holders of bitcoin should receive both versions of the currency after the split.

Bitcoin cash trading was still limited.

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 Tuesday morning that “We will stop processing $BTC deposits at noon UTC until the situation has settled. Deposits after that time will not be eligible for $BCH.”

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