Bitcoin Cash (BCH) has surged over 70% in the past week, hitting a 14-month high of $326 on Coinbase. This was driven by a combination of factors, including the listing of BCH on Wall Street-backed EDX Exchange alongside BTC, ETH, and LTC, and a spike in South Korean Upbit volume.
EDX Markets, which is supported by major Wall Street companies including Fidelity and Charles Schwab, only lists four coins, BCH being the fourth one. This listing has further bolstered the already positive sentiment in the crypto community.
On Friday, volume on Upbit’s BCH/KRW pair rose to $557 million, which was more than triple the BTC/KRW volume and nearly six times greater than BCH/USD. In the last 24 hours, daily trading volume over all exchanges has increased by 165% to over $2.4 billion.
IntoTheBlock reported that on Thursday, BCH volume had reached a one-year high of $750 million. This is a clear indication of the bullish sentiment in the markets.
As crypto markets seek to maintain the positive sentiment, Bitcoin Cash appears to be receiving some additional support from South Korea. With more than 30% gains in 24 hours, BCH’s upside momentum has been relentless. The cryptocurrency has increased by nearly 200% over the past two weeks and is now up 110% over the past year.
