- Bitcoin Cash soared to a 14-month high above $320, hitting a new all-time high of $326 on Coinbase.
- BCH has been gaining momentum since Wall Street-backed EDX listed it alongside BTC, ETH and LTC.
- A surge in trading volume on South Korean exchange Upbit contributed to the rise in CBH prices on Friday.
Bitcoin Cash surged to a 14-month high Friday morning, trading as high as $326 on US-based cryptocurrency exchange Coinbase.
Why is the BCH price rising today?
Bitcoin Cash has been hovering below $165 since falling below levels last June. But BCH climbed to a one-year high as Bitcoin climbed above $31,000 in a bullish mood boosted by BlackRock’s spot ETF filing.
Since then, the bullish momentum has not stopped, with the price surpassing the psychological $300 mark today, up more than 30% in 24 hours. The cryptocurrency has gained nearly 200% over the past two weeks and is now up 110% over the past year.
Notably, the price of BCH surged to new year highs last week after Bitcoin Cash was listed by EDX Markets, a new cryptocurrency exchange backed by Wall Street majors such as Fidelity and Charles Schwab. That’s what I did. Only his three other coins (BTC, ETH, LTC) are listed on EDX.
Enthusiasm across the BCH community for this list has further fueled its upward momentum. On Friday, a positive outlook on cryptocurrency’s potential led to a surge in trading volume on the major South Korea-based cryptocurrency platform.
Bitcoin Cash appears to be gaining additional strength from South Korea as the crypto market tries to maintain positive sentiment. In the last 24 hours, his BCH/KRW pair on crypto exchange Upbit has risen to his $557 million. That’s more than 3x his for BTC/KRW and almost 6x for BCH/USD.
According to CoinGecko data, daily trading volume across all exchanges increased 165% in the last 24 hours to over $2.4 billion.As Into The Block pointed outBCH trading volume surpassed $750 million on Thursday, the highest level in a year.
1/2 Bitcoin Cash (BCH) has surged 70% in a week following its recent inclusion in Bitcoin Cash. #EDX, a cryptocurrency exchange backed by Citadel Securities. Yesterday, BCH’s trading volume reached his highest of the year, surpassing $750 million. 🔗 https://t.co/1qZbECogW #bitcoin cash pic.twitter.com/OEOYG61sQR
— Intotheblock (@intotheblock) June 29, 2023