While spot Bitcoin ETF applications by the world’s largest financial companies triggered the rally in Bitcoin, the rally in BTC also mobilized altcoins.
In this context, while BTC has increased by close to 15% in the last week, increases between 10% and 20% have been seen in altcoins in general.
However, some altcoins have experienced big jumps by diverging positively. 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.
Popular crypto analysis platform Santiment evaluated the rise in BCH, which pinned the $200 limit, and said:
“With the help of EDXMarkets, which was launched on June 20, Bitcoin Cash became the most notable altcoin with a massive 79% price increase in 4 days.
Notably, BCH saw a 3-year high in social discussion rates, and volume easily eclipsed 2023 peaks.”
📈 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. https://t.co/6fz4RL28tH pic.twitter.com/MNn59zRy8T
— Santiment (@santimentfeed) June 24, 2023
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.
*Not investment advice.
