• Bitcoin cash (BCH) has experienced a 112% surge in value within a week of being listed on EDX Markets.
• The surge is attributed to BlackRock’s application for a bitcoin spot ETF and the launch of EDX Markets.
• BCH is currently exchanging hands for $224.76, representing an increase of 16.7% within the last 24 hours and a 112% surge over the past week.
Bitcoin Cash (BCH) Sees 112% Surge
Bitcoin cash (BCH) has experienced a surge of 112% in value within a week of being listed on EDX Markets, a platform supported by prominent financial institutions.
Factors Behind the Surge
The remarkable upswing can be attributed to two significant factors: BlackRock’s application for a bitcoin spot ETF and the launch of EDX Markets.
BlackRock’s recent application for a bitcoin spot ETF has triggered excitement in the cryptocurrency market. This interest has created a bullish sentiment around bitcoin and projects like bitcoin cash.
The introduction of EDX Markets has also emerged as a catalyst for bitcoin cash’s (BCH) recent price surge. EDX Markets, a trading platform specifically designed for institutional investors, has gained immense attention due to its backing by financial giants like Fidelity, Schwab, and Citadel Securities.
Current Price Analysis
At the time of writing, bitcoin cash (BCH) is exchanging hands for $224.76, representing an increase of 16.7% within the last 24 hours and a 112% surge over the past week, data from CoinGecko shows.
The market cap for bitcoin cash sits at $4,375,835,358, with a circulating supply of 19 million BCH.
Expected Price Momentum
Should the resistance at $220 to $230 be broken , it may pave the way for further upward momentum in the price o fbitcoin c ash .
< h 2 > Conclusion < p > Bitcoin cash ‚ s listing on EDX markets , coupled with BlackRock‘ s application for Bitcoin Spot ETF , have both contributed significantly towards its impressive 112 % price surge . Should this trend continue , we could witness more gains in BCH ‚ s near future .