While spot Bitcoin ETF applications by the world’s largest financial companies triggered the rally in Bitcoin, the rally in BTC also mobilized altcoins. One of these altcoins was undoubtedly Bitcoin Cash (BCH), which attracted attention with its 80% rise.
Looking at what was behind this rise, the new stock exchange EDXMarkets, which was launched recently, listed only four cryptocurrencies, and one of them was Bitcoin Cash. Because EDXMarkets said in a statement that it only listed Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash, considering the crypto pressure of the SEC.
BCH, which increased by 79% in the last week and by 35% in the last 24 hours, reached $ 192. Crypto analysis platform Santiment evaluated the rise in BCH, which pinned the $ 200 limit, and said:
With the assistance of #EDXMarkets, launched on June 20th, #BitcoinCash has been the biggest beneficiary with a massive +79% price gain in 4 days. Notably, $BCH has seen a 3-year high in social discussion rates, & volume has easily eclipsed 2023 highs.
Bitcoin Cash was released in July 2017 after forking the original Bitcoin blockchain. Listed on Binance, BCH reached $1,650 in the 2021 bull rally.