Bitcoin Money jumps to 14-month excessive amid South Korea quantity spike

• Bitcoin Money has skyrocketed to a 14-month excessive above $320, hitting highs of $326 on Coinbase.
• BCH upside momentum has elevated since Wall Avenue-backed EDX listed the coin alongside BTC, ETH and LTC.
• A spike in quantity on South Korea alternate Upbit helped push CBH value greater on Friday.

Bitcoin Money rallied to its highest value in 14 months on Friday morning, buying and selling at highs of $326 on US-based crypto alternate Coinbase.

Why is BCH value rallying at this time?

Bitcoin Money had stagnated beneath $165 since dipping beneath the extent in June final yr. Nevertheless, with Bitcoin rallying to above $31k amid bullish sentiment buoyed by BlackRock’s spot ETF submitting, BCH roared to a one-year excessive.

The bulls have been relentless since, with value crossing the psychological $300 mark at this time with greater than 30% beneficial properties in 24 hours. The cryptocurrency has rallied practically 200% over the previous two weeks, and is now within the inexperienced by 110% over the previous yr.

It’s notable that the worth of BCH had raced to a brand new yr excessive final week after EDX Markets, a brand new crypto alternate backed by main Wall Avenue corporations together with Constancy and Charles Schwab, listed Bitcoin Money. EDX solely lists three different cash – BTC, ETH and LTC.

Enthusiasm throughout the BCH group from this itemizing has added to the upside momentum. On Friday, the optimistic outlook on the cryptocurrency’s potential noticed quantity spike on a number one South Korea-based crypto platform.

As crypto markets bid to carry onto the optimistic sentiment, Bitcoin Money seems to be getting some further leg from South Korea. Over the previous 24 hours, the BCH/KRW pair on crypto alternate Upbit rose to $557 million, greater than thrice the quantity of BTC/KRW and practically 6x higher than BCH/USD.

Knowledge from CoinGecko reveals day by day buying and selling quantity throughout all exchanges has elevated 165% previously 24 hours to over $2.4 billion. As IntoTheBlock factors out, BCH quantity rose to above $750 million on Thursday, a one-year excessive.

1/2 Bitcoin Money (BCH) soars 70% in per week, driving excessive on its latest inclusion on #EDX, the Citadel Securities-Backed Crypto Trade. Yesterday noticed the very best quantity of BCH transacted in a yr, exceeding a staggering $750M.🔗 https://t.co/1qZbEChogW #BitcoinCash pic.twitter.com/OEOYG61sQR

— IntoTheBlock (@intotheblock) June 29, 2023