Bitcoin Cash Prices Spikes to 4-Month High; Open Interest Rises to 77%
Bitcoin Cash was one of four assets listed on Citadel-backed exchange EDX this week.
Bitcoin Cash (BCH) has surged by 36.5% in the past three-days after EDX, the , listed the token alongside bitcoin (BTC), ether (ETH) and litecoin (LTC).
In the past 24-hours it has increased by more than 10% to $143, its highest level since February, according to .
Open interest, a metric used to assess the nominal value of open trades on a specific asset, has risen by 77% to a nine-month high $135 million according to
The rise in open interest suggests a shift in positive sentiment with hopes that the asset can experience institutional adoption after being listed on EDX.
Bitcoin Cash was issued in July 2017 after it forked the original Bitcoin's blockchain. It made a record high of $2,947 during the peak of the 2017 bull market. However, despite early optimism, adoption of Bitcoin Cash as a payments network has paled into insignificance compared to its sibling.
Over the past seven days, the total amount of transactions on the Bitcoin Cash network worth more than $100,000 is at . Bitcoin, meanwhile, has facilitated $75 billion in transactions during the same period, according to.
Edited by Parikshit Mishra.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP News Today: XRP ETF Momentum Contrasts with Declining Network Engagement
- XRP's ETF inflows exceed $420M daily, contrasting with 50% lower on-chain payment volume and declining transaction counts. - Technical indicators show fragile bullish momentum below $2.28, while RSI rejection and EMA positioning highlight bearish pressure. - Fed's 81% rate cut probability and ETF-driven demand could push XRP toward $3, but network activity weakness raises sustainability doubts. - MACD buy signals clash with declining 50-day EMA ($2.38) and structural vulnerabilities in ETF-dependent pric
Ethereum News Update: North Korean Cybercriminals' Cross-Chain Money Laundering Reveals Vulnerabilities in Crypto Security
- North Korean hackers suspected in $36.8M Upbit breach used multi-chain laundering across Solana and Ethereum to obscure stolen assets. - Upbit froze transactions, pledged user reimbursements, and faces regulatory fines for delayed reporting amid a $10.3B merger with Naver. - Attack mirrors 2019 Lazarus tactics, exposing crypto industry vulnerabilities as stolen funds were rapidly converted into $1.6M via 185 wallets. - Market volatility surged with altcoin price spikes, while regulators intensify scrutin
Blazpay's 24-Hour Timer: AI-Powered Token Set to Dominate the 2025 Cryptocurrency Surge
- Blazpay's Phase 4 presale enters final 24 hours with $1.52M raised and 78.6% tokens sold, outpacing initial sales projections. - Analysts highlight 3.4x-5x return potential for early buyers, citing AI-powered trading tools, multichain infrastructure, and audit-backed security protocols. - Investors can purchase BLAZ tokens via USDT/ETH/BNB through the official portal, with referral incentives and gamified rewards boosting community engagement. - Project emphasizes real-world utility including automated t
Bitcoin News Update: MSCI Regulation Ignites Tension Between Bitcoin and Major Traditional Financial Institutions
- MSCI's proposed rule to exclude firms with over 50% crypto assets risks triggering $8.8B in forced Bitcoin sell-offs from index-tracking funds by 2026. - JPMorgan's analysis highlights existential threats for crypto-focused companies like Strategy (MSTR), which could face $2.8B in passive outflows alone. - Critics accuse MSCI and JPMorgan of bias, citing the bank's anti-crypto stance and the "binary cliff effect" of the 50% threshold destabilizing market eligibility. - The debate reflects a clash between
Trending news
MoreCrypto prices
More
