Bitcoin Cash’s new listing and Asia’s turn-up lands BCH here

AMBCrypto
AMBCrypto

30 Jun 2023 9:30 AM

BCH was the unsung star of the market in the past week. Interestingly, the dominance has not stopped and here's what is responsible....

  • The trading volume of Bitcoin Cash (BCH) reached $750 million, the highest it has been all year, due to its inclusion in EDX Markets' trading assets.
  • BCH's price increased by 112.34% in the last seven days.
  • BCH, along with Bitcoin, Litecoin, and Ethereum, was listed on EDX Markets, potentially due to the recent SEC clampdown on other cryptocurrencies.
  • South Korea's largest exchange, Upbit, contributed significantly to BCH's trading volume.
  • The "Balance by Time Held" indicator showed a 33% increase in BCH addresses with increased balances, indicating a potential bull cycle entry.
  • BCH's Open Interest reached its Year-To-Date high, suggesting new positions and significant money inflow into the market.

The sentiment of the article is positive, highlighting the increased trading volume, price surge, and market interest in Bitcoin Cash.

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You May Ask

What caused the significant increase in Bitcoin Cash's trading volume and price?Why did EDX Markets choose to list Bitcoin Cash along with Bitcoin, Litecoin, and Ethereum?How did South Korea's Upbit exchange contribute to Bitcoin Cash's trading volume?What does the "Balance by Time Held" indicator suggest about the behavior of Bitcoin Cash holders?Why did Bitcoin Cash's Open Interest reach its Year-To-Date high, and what does it indicate for the market?

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