Bitcoin Money jumps to 14-month excessive on surge in South Korean volumes

• Bitcoin Money jumped to a 14-month excessive above $320, whereas Coinbase hit $326.
• BCH’s development price elevated as Wall Avenue-backed EDX coin listed alongside BTC, ETH and LTC.
• A surge in quantity on South Korean alternate Upbit helped increase CBH on Friday.

Bitcoin Money rose to a 14-month excessive on Friday morning at $326 on US-based cryptocurrency alternate Coinbase.

Why are BCH costs rising right now?

Bitcoin Money has fallen beneath $165 since final June. However bitcoin rose to greater than $31,000 on sentiment boosted by BlackRock’s ETF submitting, sending BCH to a one-year excessive.

The bulls have been relentless since then, with the worth breaching the psychological $300 barrier right now and up greater than 30% in 24 hours. The cryptocurrency is up almost 200% previously two weeks and is now up 110% over the previous yr.

Notably, BCH rose to new yr highs final week after EDX Markets, a brand new cryptocurrency alternate backed by Wall Avenue majors together with Constancy and Charles Schwab, listed Bitcoin Money. EDX solely lists three different cash, BTC, ETH and LTC.

The BCH neighborhood’s enthusiasm for the itemizing has constructed momentum. On Friday, a constructive outlook for the cryptocurrency’s potential grew on South Korea’s main cryptocurrency platform.

As cryptocurrency markets battle to keep up constructive sentiment, Bitcoin Money seems to be getting an additional leg up from South Korea. Over the previous 24 hours, the BCH/KRW pair on the cryptocurrency alternate Upbit has risen to 557 million. USD, greater than thrice that of BTC/KRW and virtually 6 instances that of BCH/USD.

Knowledge from CoinGecko exhibits that every day buying and selling quantity throughout all exchanges elevated by 165% within the final 24 hours to over 2.4 billion. Like IntoTheBlock attracts consideration toBCH quantity rose to over 750 million on Thursday.

1/2 Bitcoin Money (BCH) Up 70% in a Week #EDX, Citadel Securities Cryptocurrency Change. Yesterday noticed the best quantity of BCH transactions in a yr, surpassing a staggering 750 million. USD. 🔗 https://t.co/1qZbEChogW #BitcoinCash pic.twitter.com/OEOYG61sQR

— IntoTheBlock (@intotheblock) in 2023 June 29