Bitcoin Cash (BCH) has witnessed an astounding surge of 77% in its price. This remarkable increase has caught the attention of cryptocurrency enthusiasts and investors alike.
The Rise of Bitcoin Cash (BCH)
Bitcoin Cash experienced a substantial surge in price, outperforming many other cryptocurrencies in the market. Within a span of four days, BCH soared from $109 to $199.00, making it one of the top gainers among the top twenty digital assets. This surge in value has not gone unnoticed, as Bitcoin Cash holds the top position among the weekly gainers, boasting a remarkable gain of 76.43%.
One of the primary driving forces behind the surge of Bitcoin Cash is the increasing institutional interest in the cryptocurrency market. Influential institutional investors, such as Citadel Securities and Fidelity Investments, have extended their support to the newly launched digital asset trading platform, EDX Markets. This backing from renowned financial institutions has instilled confidence in the market and fueled the bullish momentum for Bitcoin Cash.
Additionally, the broader market rally led by Bitcoin (BTC) has had a positive impact on BCH and other altcoins. Bitcoin’s recent gain of 7% and the launch of EDX Markets have contributed to the rise in Bitcoin Cash’s value. As a result, BCH witnessed a significant spike, adding $450 million to its market capitalization.
EDX Markets and Investor Confidence
The launch of EDX Markets has been a game-changer for Bitcoin Cash. As one of the four cryptocurrencies supported on the exchange, alongside Bitcoin, Ethereum, and Litecoin, BCH has enjoyed increased visibility and trading volume. The introduction of this digital asset trading platform has rejuvenated investor confidence in the digital assets market and created a bullish sentiment.
With the social discussion rate of Bitcoin Cash reaching a three-year high and its trading volume surpassing previous highs, it is evident that the launch of EDX Markets has played a pivotal role in driving the surge of Bitcoin Cash. This positive market sentiment and momentum have positioned BCH as a top performer in recent times.
