One of the oldest altcoins, Bitcoin Cash, has doubled in value since the beginning of the week – from $106 to $214. Analysts attribute this growth of BCH to the support of the altcoin new cryptocurrency exchange EDX Markets.
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Bitcoin Cash rose 100% for the week thanks to support from EDX Markets
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Capitalization of Bitcoin Cash at the time of publication reached $4.5 billion. Altcoin has risen by $13% in the last 24 hours and 101% in the last seven days. The altcoin itself was launched in 2017 and is one of the oldest forks of bitcoin.
The launch of EDX Markets trading platform influenced the whole cryptocurrency market, including bitcoin. The exchange is backed by major financial institutions – Citadel Securities, Fidelity, Charles Schwab, Paradigm, Sequoia Capital and Virtu Financial. The highlight of the site is the “non-custodial model” of work – client funds are stored in a third-party service, not in the accounts of EDX Markets.
In addition to BTC and BCH trading, EDX Markets offers ETH and LTC trading. However these cryptocurrencies although they showed growth during the week, not as significant as Bitcoin Cash.
Despite Bitcoin Cash’s significant rise, the coin is still trading 94% below its December 2017 historical record.
As a reminder, the launch of
EDX Markets on June 20.