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Bitcoin Cash Jumps 14%
Almost exactly $1 billion of that figure went straight into bitcoin cash. From Tuesday’s low of $375.03, the unit value of BCH rose to $430.09.
That equated to 14.7% growth, and saw the coin’s market cap climb from $6.8 billion to $7.8 billion. For now, that cements bitcoin cash’s fourth place position in the market cap rankings, just weeks after it was temporarily displaced by bitcoin SV (BSV).
CoinMarketCap reported $4.4 billion worth of trade volume for BCH on the day – up 41% from $3.1 billion 24 hours earlier. A more conservative estimate from Nomics places transparent volume at $226 million – up 45% from yesterday.
Wednesday’s surge compounds 91% growth for the month for BCH. Measuring its performance since December’s market low, we see 147% growth over nine weeks.