Old-school bitcoin hard-fork altcoin surges 82% this week thanks to support from a new Wall Street-backed exchange
A legacy Bitcoin (BTC) hard-fork altcoin made headlines this week after a listing on a brand new crypto exchange sent the asset’s price skyrocketing.
Bitcoin Cash (BCH), which forked from Bitcoin in 2017, is up 41% in the past 24 hours and more than 62% over the past week.
The 20th-ranked crypto asset by market cap is trading at $195.51 at the time of writing.
BCH was one of four crypto assets to receive support from newly launched digital asset marketplace EDX Markets.
The new exchange is getting a lot of attention, having secured 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 SEC’s unregistered securities allegations against Coinbase and Binance earlier this month.
Despite BCH’s huge price surge this week, it is still more than 94% below its all-time high of $3,786, which it reached back in December 2017.
The other three EDX-backed assets also had strong weeks: Bitcoin is up nearly 17% over the past seven days, Ethereum is up more than 10%, and Litecoin is up 19.2%.
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