Bitcoin Cash

Today, on June 21, the majority of crypto assets are displaying notable gains, with prices deep in the green, as their prices soar and trend firmly in positive territory.Particularly noteworthy among these digital currencies is Bitcoin Cash (<a href="https://finbold.com/cryptocurrency/bitcoin-cash/" rel="noopener noreferrer nofollow">BCH</a>), which has emerged as one of the top three performers in terms of price appreciation over the past 24 hours among the top 100 <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrencies</a> by market capitalization. Accompanying Bitcoin Cash in this notable surge are Flow (<a href="https://finbold.com/cryptocurrency/flow/" rel="noopener noreferrer nofollow">FLOW</a>) and Conflux (CFX).<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/18c5493e1fa548a4b4f7b1a2c54aadaa.jpg" />Leading cryptocurrencies in terms of past 24-h gains. Source: CoinMarketCapOver the past 24 hours, BCH saw its price advance from $104 to $129, adding $450 million to its market worth. As a result of this jump, the cryptocurrency’s market cap now stands at around $2.52 billion, up more than 21% from $2.07 billion a day ago.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2c470e63b6dc4def836de7c8e9f1c086.jpg" />BCH 1-day price data. Source: FinboldInterestingly, the recent leap comes after the cryptocurrency experienced a momentary dip earlier this month, briefly dropping below the key <a href="https://finbold.com/guide/support-and-resistance/" rel="noopener noreferrer nofollow">support</a> of $100.On a weekly chart, BCH’s price remained relatively flat, up until the latest price spike.<h2 id="header-0">What’s driving the BCH rally?</h2>BCH a fork of Bitcoin that was created in 2017 saw its price skyrocket on Wednesday amid a broader market rally, led by the leading cryptocurrency, Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>), which gained more than 7% in the past 24 hours, <a href="https://finbold.com/40-billion-flows-into-bitcoin-market-cap-in-24-hours-is-30k-btc-next/" rel="noopener noreferrer nofollow">adding over $40 billion to its worth</a>.Unsurprisingly, Bitcoin’s upward move dragged major altcoins into the green, with the likes of <a href="https://finbold.com/guide/how-to-buy-litecoin/" rel="noopener noreferrer nofollow">Litecoin</a> (<a href="https://finbold.com/cryptocurrency/litecoin/" rel="noopener noreferrer nofollow">LTC</a>), Cardano (<a href="https://finbold.com/cryptocurrency/cardano/" rel="noopener noreferrer nofollow">ADA</a>), Stacks (<a href="https://finbold.com/cryptocurrency/stacks/" rel="noopener noreferrer nofollow">STX</a>), and Polygon (<a href="https://finbold.com/cryptocurrency/polygon/" rel="noopener noreferrer nofollow">MATIC</a>) also seeing notable gains of 8.4%, 7.8%, 19.7%, and 6.8%, respectively. Ethereum (<a href="https://finbold.com/cryptocurrency/ethereum/" rel="noopener noreferrer nofollow">ETH</a>) and Solana (<a href="https://finbold.com/cryptocurrency/solana/" rel="noopener noreferrer nofollow">SOL</a>) climbed by more than 5% each over the same period.Meanwhile, another factor that likely contributed to BCH’s impressive rally is the <a href="https://www.businesswire.com/news/home/20230620110605/en/Digital-Asset-Platform-EDX-Markets-Begins-Trading-and-Completes-New-Funding-Round" rel="noopener noreferrer nofollow">launch</a> of <a href="https://finbold.com/top-global-financial-firms-fidelity-charles-schwab-and-citadel-unveil-crypto-exchange-for-us-investors/" rel="noopener noreferrer nofollow">EDX Markets</a> – a crypto exchange backed by several prominent institutional investors, including Citadel Securities, Fidelity Investments, and <a href="https://finbold.com/guide/buy-bitcoin-with-charles-schwab/" rel="noopener noreferrer nofollow">Charles Schwab</a>.At the moment, Bitcoin Cash is one of the only four cryptocurrencies supported on the EDX exchange, in addition to BTC, ETH, and LTC.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com.</a>

Bitcoin Cash (BCH) soars over 20% in a day; Here’s why

Table of Contents

Finbold

Other articles published on Jun 21, 2023

US Agencies To Create Joint Task Force For Digital Currency Crime

CryptoQuant: "Someone Is Buying Lots of Bitcoin"

$40 billion flows into Bitcoin market cap in 24 hours; Is $30k BTC next?

Cardano unveils Node 8.1.1 update for ADA network

Key Reason Why Bitcoin Just Leaped Toward $29,000

Report: Over 420 million Crypto users globally; US and India top the chart

Join our free newsletter for daily crypto updates!