Bitcoin Cash hits 1-year high ── EDX Markets opening and social interest boosted | CoinDesk JAPAN

Bitcoin Cash (BCH) hit a one-year high on the morning of the 26th, more than doubling in price in a week. It seems to have been boosted by becoming one of the four crypto assets (virtual currencies) handled by EDX Markets, a crypto asset exchange supported by major financial institutions.

Bitcoin Cash surged 17% in 24 hours to reach $226.44, its highest since May 2022. The CoinDesk Bitcoin Cash Price Index (BCX), which tracks prices on multiple exchanges, is up 111% in a week.

In addition to its launch on EDX Markets, Bitcoin Cash is seeing increased trading volume and interest from social media, according to cryptocurrency research firm Santiment.

Backed by major financial institutions such as Fidelity Digital Assets, Charles Schwab and Citadel Securities, EDX Markets will start trading on the 20th, trading Bitcoin (BTC). ), Ethereum (ETH), and Litecoin (LTC), along with Bitcoin Cash.

The sudden price move caught the attention of retail investors, social conversations about Bitcoin Cash hit a three-year high, and trading volume hit a record high this year, Santiment tweeted Thursday, May 24. .

Bitcoin Cash diverged (hard forked) from the Bitcoin (BTC) blockchain in July 2017, and was expected to expand as a payment network. But despite early optimism, traffic falls far short of Bitcoin. According to BitInfoCharts, over the past 24 hours Bitcoin Cash has traded around $92 million compared to $11 billion for Bitcoin. It is still down 95% from its all-time high of $4,355 in December 2017, according to CoinMarketCap.

CoinDesk

｜Translation: CoinDesk JAPAN
｜Editing: Takayuki Masuda
｜Image: CoinDesk
｜Original: Bitcoin Cash Price Jumps to One-Year High Fueled by Spiking Social Interest, Exchange Support