Bitcoin Cash hits 4-month high ── EDX Markets listing boosts | CoinDesk JAPAN

Bitcoin Cash (BCH) was launched on the 20th at EDX Markets, a crypto asset (virtual currency) exchange backed by Fidelity, Schwab and Citadel, alongside Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). The listing of Bitcoin Cash surged 36.5% in three days.

According to CoinDesk data, it surged more than 10% in a 24-hour period to reach a high of $143, the highest since February.

Open interest also rose 77% to reach a nine-month high of $135 million, according to data from Coinalyze.

The increase in open interest points to a positive shift in sentiment, along with expectations that Bitcoin Cash will become more popular among institutional investors after being listed on EDX.

Bitcoin Cash was born in July 2017 as a hard fork from the Bitcoin blockchain. It hit a high of $2,947 during the peak of the 2017 bull market. However, contrary to the initial optimism, the spread of Bitcoin as a means of payment has not progressed, leaving a big gap to the Bitcoin blockchain.

For example, according to data from IntoTheBlock, in seven days, the total value of transactions over $100,000 on the Bitcoin Cash network was $129 million. The Bitcoin network, on the other hand, is valued at $75 billion.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Weekly price change of Bitcoin Cash (CoinDesk)
｜Original: Bitcoin Cash Prices Spikes to 4-Month High; Open Interest Rises to 77%