BCH Surges 114.3% with Listing on EDX Markets
Bitcoin Cash (BCH) has experienced a remarkable surge in price, gaining 114.3% in just one week. This surge has made BCH the highest gainer among the top 300 tokens by market cap. The uptrend is largely attributed to its recent listing on EDX Markets, which has attracted significant trading volumes and social media interest.
Main Points:
– BCH reached a one-year high after being listed on EDX Markets, an exchange backed by Wall Street heavyweights.
– EDX only allows trading of BTC, ETH, LTC, and BCH.
– Santiment, a crypto research firm, found that BCH has benefited from EDX’s launch, resulting in increased trading volumes and social media discussion.
– BCH’s surge in price may be driven by trading activity on South Korean exchanges, as indicated by the massive trading volumes recorded on the BCH/KRW pair on Upbit.
– Despite the recent surge, BCH is still down 92% from its all-time high in 2017.
Hot Take:
The listing of BCH on EDX Markets has propelled its price to new heights, attracting the attention of both retail traders and institutional investors. With the support of major players in the financial industry, BCH has the potential to further establish itself as a prominent cryptocurrency in the market. However, it is important to note that BCH’s price remains significantly lower than its peak in 2017, indicating the volatility and unpredictable nature of the cryptocurrency market.
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