Bitcoin Cash (BCH) has witnessed massive growth, as its value surged over 60% in the past week. This surge can be attributed to two key factors: First is BlackRock’s recent application for a Bitcoin spot ETF with the US SEC and second is the launch of EDX Markets backed by investment giants like Fidelity and Citadel etc.
The introduction of EDXM, a platform to serve institutional investors, appears to be the main catalyst behind Bitcoin Cash’s recent price surge. EDX Markets, backed by industry giants Fidelity, Schwab, and Citadel Securities, carries significant weight despite not being registered with the SEC.
BCH’s price remained fluctuating between $100 and $150 throughout the year. However, its value experienced a significant vertical rise after being listed on EDX Markets, reaching levels last seen 15 months ago in May 2022. The price of BCH jumped massively after June 20, 2023, from $110 to an ATH of $330 (on some exchanges). For now, at the time of writing this article, BCH is trading at around $295 and has ranked #14 on CMC with a market capitalization of $5.8 Billion.