- Find out how BCH experienced a remarkable surge in value after being listed on a new exchange.
- Sneak a peek into the exciting rise of Bitcoin Cash’s price following its inclusion on EDX Markets.
- Discover the significant boost BCHreceived and the increased confidence it instilled in investors
Bitcoin Cash has experienced a significant surge in value after being listed on a new cryptocurrency exchange supported by notable traditional finance entities such as Citadel Securities, Fidelity, and Charles Schwab.
The newly deployed exchange, EDX Markets, initially introduced four crypto assets- Bitcoin, Ether, Litecoin and Bitcoin Cash. Since the announcement, the price of Bitcoin Cash has more than doubled over the past week, reaching approximately $235 as of Tuesday morning. Within the last 24 hours, the coin’s price has witnessed a nearly 20% increase.
SEC didn’t brand Bitcoin Cash as security
Bitcoin Cash received a boost when it was excluded from being categorized as security in recent Securities and Exchange Commission (SEC) lawsuits filed against Binance and Coinbase. The listing of Bitcoin Cash on EDX Markets has provided investors with increased confidence, suggesting potential regulatory leniency.
During a crypto event hosted by Bloomberg and Fidelity in 2018, Gary Gensler, who is now the SEC Chairman, stated that BCH, along with Litecoin and Ether, the other cryptocurrencies listed on EDX, should not be considered securities. This differs from the chairman’s typical stance, where he has frequently referred to almost every cryptocurrency, excluding Bitcoin, as a security.
BCH emerged as a result of a dispute between Bitcoin’s users and developers concerning divergent visions for the blockchain’s future. In 2017, a group advocating for Bitcoin’s emphasis on consumer payments initiated a split, or forked, the blockchain, leading to the creation of Bitcoin Cash.
Despite having a significantly lower value compared to Bitcoin, which was trading near $30,700 on Tuesday morning, BCH maintains its position among the top 20 cryptocurrencies, boasting a market capitalization exceeding $4.5 billion.
