Old-School Bitcoin Hard Fork Altcoin Pumps by 82% This Week Amid Support From New Wall Street-Backed Exchange
An old-school Bitcoin (BTC) hard fork altcoin is making headlines this week after a listing on a brand new crypto exchange sent the asset’s price soaring.
Bitcoin Cash (BCH), which was spun off from Bitcoin in 2017, is up 41% in the past 24 hours and more than 62% in the past week.
The 20th-ranked crypto asset by market cap is trading at $195.51 at time of writing.
BCH was one of four crypto assets to receive support from the newly launched digital asset marketplace EDX Markets.
The new exchange is getting a lot of attention because it received a round of funding from financial heavyweights Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial.
EDX also offers trading services for Bitcoin, Ethereum (ETH), and Litecoin (LTC). None of the four assets were mentioned in the U.S. Securities and Exchange Commission’s (SEC) unregistered securities charges against Coinbase and Binance earlier this month.
Despite BCH’s huge price pump this week, it still remains more than 94% down from its all-time high of $3,786, which it set all the way back in December 2017.
The other three EDX-supported assets have also had strong weeks: Bitcoin is up nearly 17% in the past seven days, Ethereum is up by more than 10%, and Litecoin is up by 19.2%.
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