Bitcoin Cash Surges to a 14-Month High, Reaching $326 on Coinbase

3:50 pm
June 30, 2023

Bitcoin Cash (BCH) has experienced a significant rally, reaching its highest price in 14 months. The cryptocurrency hit highs of $326 on the US-based crypto exchange Coinbase. This surge in price can be attributed to several factors, including increased momentum from being listed on the Wall Street-backed EDX exchange and a spike in volume on the South Korea-based exchange Upbit.

Why is the Price of BCH Rising?

Bitcoin Cash had remained stagnant below $165 since June last year. However, with the recent bullish sentiment in the crypto market, sparked by BlackRock’s spot ETF filing and Bitcoin surpassing $31k, BCH has seen a substantial increase in value. The cryptocurrency has gained more than 30% in the last 24 hours and almost 200% over the past two weeks. Additionally, the listing of Bitcoin Cash on EDX Markets, backed by major Wall Street companies like Fidelity and Charles Schwab, has further fueled the positive sentiment surrounding BCH.

The BCH community’s enthusiasm for the EDX listing has contributed to the surge in price. Furthermore, the South Korea-based exchange Upbit has experienced a significant increase in volume for the BCH/KRW pair, surpassing both BTC/KRW and BCH/USD pairs. The daily trading volume of BCH has risen by 165% in the past 24 hours, totaling over $2.4 billion across all exchanges.

These recent developments have propelled Bitcoin Cash to a new high, demonstrating its growth potential and attracting attention from investors and traders.

Frequently Asked Questions

What is Bitcoin Cash?

Bitcoin Cash (BCH) is a cryptocurrency that was created in 2017 as a result of a hard fork from the original Bitcoin blockchain. It is designed to be a faster and more scalable alternative to Bitcoin.

Why did Bitcoin Cash surge in price?

The surge in Bitcoin Cash’s price can be attributed to several factors, including increased momentum from being listed on the EDX exchange, positive market sentiment influenced by Bitcoin’s rally, and a spike in trading volume on the Upbit exchange.

Is Bitcoin Cash a good investment?

Investing in cryptocurrencies involves risk, and the price of Bitcoin Cash can be volatile. It is essential to conduct thorough research and consider your risk tolerance before investing in any cryptocurrency.

What other cryptocurrencies are listed on the EDX exchange?

EDX currently lists three other cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).

Can I trade Bitcoin Cash on Coinbase?

Yes, Bitcoin Cash is available for trading on Coinbase, a US-based cryptocurrency exchange.

What is the trading volume of Bitcoin Cash?

The trading volume of Bitcoin Cash has experienced a significant increase, rising by 165% in the past 24 hours and totaling over $2.4 billion across all exchanges.


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