Bitcoin Cash jumps 21% following EDX Markets listing

Bitcoin Cash (BCH) jumped 21% over the last 24 hours to $127.90 at press time, with analysts attributing the move to its recent listing on legacy-backed exchange EDX.

Bitcoin Cash

Bitcoin Cash soared as high as $142 on June 21 to mark a 16-week high. This was enough to lead the top 100, with Conflux and Flow taking second and third place.

BCH has been caught in a macro downtrend since February, peaking at a year-to-date high of $154.20.

In line with market leader Bitcoin, BCH bounced around mid-March as several U.S. banks underwent a series of crises and failures. Still, it could not recapture previous highs, with the $140 zone proving to be strong resistance.

Following rejections on March 14 and March 20 at $140, BCH slid lower to find a local bottom at $90.30 some two and a half months later on June 10.

Since then, BCH had begun trending upwards, followed by a 29% swing on the daily June 21 candle that edged just above the previous $140 resistance level before being rejected once more.

EDX Markets

On June 20, non-custodian cryptocurrency exchange EDX Markets launched, offering institutional users Bitcoin, Ethereum, Litecoin, and Bitcoin Cash trading.

The exchange caters to institutional clients and is backed by Citadel Securities, Fidelity Investments, and Charles Schwab. Currently, it is not registered with the Securities Exchange Commission (SEC) approved.

The SEC made headlines in recent weeks for enforcement actions against Binance and Coinbase over allegations of violating securities laws.

Over the last 24 hours, Bitcoin, Ethereum, and Litecoin increased by 7.8%, 5.9%, and 9.4%, respectively, posting significantly fewer percentage gains than Bitcoin Cash.

Mentioned in this article

Bitcoin Cash Bitcoin Ethereum Litecoin EDX Markets Fidelity Investments Adam Cochran

Author

Samuel Wan

Analyst at CryptoSlate

Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.

@WanSamuel Email Samuel

Editor

Jacob Oliver

Former Editor at CryptoSlate

Jacob Oliver is a recovering academic and English teacher turned crypto journalist and web3 writer. He holds a Ph.D. from the University of Washington.

@rkansawyer LinkedIn Email Editor

Ad

Bitget Announces Strategic Collaboration with SunPump on Growth of Tron Meme Ecosystem

Ad

CryptoSlate on X x.com/cryptoslate

Join our X community for real-time crypto news and expert insights.

Follow @cryptoslate

Ad

Latest Bitcoin Cash Stories

Are Bitcoin forks advancing progress or threatening stability?

Opinion 4 weeks ago

Bitcoin hard forks struggle to balance decentralization and scalability while addressing rising transaction fees.

Bitstamp confirms receipt of Mt.Gox assets, reimbursements begin July 25

Exchanges 5 months ago

The development marks a significant milestone in a decade-long effort to reimburse those affected by the infamous 2014 hack that led to Mt. Gox's collapse.

Bitcoin Cash hash rate hits yearly peak as Phoenix dominates 90% of the network

Mining 6 months ago

Bitcoin Cash's BCH token price has slumped to a four-month low amid the broader crypto market struggles.

Bitcoin’s crash to $64k causes meltdown for alts

Crypto 8 months ago

The decline mirrored a broader selloff across asset classes amid heightened global economic uncertainties and geopolitical risks.

Latest Press Releases

View All

Gud Tech, Zircuit’s First AI Fair Launch, Surpasses $9M in Staking Value

Chainwire 12 hours ago

Binance Futures Launches CGPT/USDT Perpetual Contracts

Chainwire 12 hours ago

O.XYZ Launches OSOL100 AI Index – The S&P 100 of Solana’s AI Ecosystem

Chainwire 12 hours ago