Bitcoin Cash (BCH) entered Wednesday in a bright sentiment increasing more than 7.5% against the US dollar over a 24-hour period so we are looking closer on the price movements in today’s altcoin news.
Earlier today the BCH/USD pair was trading at $129 according to the data on CoinMarketCap. The total market cap reached $2.282 billion which is the best position for Bitcoin Cash since January 15, 2019. Its 24-hour adjusted volume is somewhere above $256.240 million.
However, many other top cryptocurrencies didn’t do so well. The price of bitcoin surged by a tiny 2%, Ripple and Ethereum jumped for 1.6% and 2% over the past 24 hours. Only TRON and EOS came closer to Bitcoin Cash where both of them reached an increase by more than 5 percent against the US dollar.
The man behind Bitcoin Cash, Roger Ver, announced that they are considering updating their Bitcoin.com wallet and some think that this could be the reason for the increase in value. Others think that the reason for that is Bitquick adding BCH support to its platform.
Bitcoin Cash even had a hard time since its hard fork in November 2018 but also because its closest ally Bitmain closed down all global operations and fired nearly 85% of its staff. The co-owner of Bitcoin.org even said that Bitcoin Cash is dead.
According to the crypto trader Moon Overlord, Bitcoin Cash is about to break out of a sizeable descending line trend. Another analyst, Nico, believes that the current move of BCH is a bullish one for assets.
Huobi Crypto Exchange Adds Three Trading Pairs For XRP In The USA
XRP Price Jumps By 3% But The Upside Actions Seems Weak
OKCoin Exchange Invests In Crypto Custody Provider Prime Trust
“We make money just as Robinhood, Northern Trust and other traditional custodians do. The costs of custody are offset by other services," Purcell explained.This is definitely something that stirred up the market from a positive viewpoint, allowing traders to speculate on the potential novelties that the partnership could bring.
Coinbase Expands Its Crypto Offering To 11 More Countries
“This could take the form of decentralized versions of traditional financial services like lending or micropayments or truly novel crypto applications that no one has even thought of yet. The ability to convert from one crypto to another will form the backbone of this new decentralized economy.”Meanwhile, the news that Coinbase expands allow customers in the aforementioned countries to store, trade, send and receive cryptocurrencies. As the latest cryptocurrency news show, the exchange also suggested that cryptocurrencies are moving from the current "investment phase" into the "utility phase" following a number of new use cases. Recently, the company introduced a lot of new developments, one of which was featured in the altcoin news section. It was the added support for EOS (EOS), Maker (MKR) and Augur (REP) which went viral and expanded into cross-border payments. The latter development reportedly enables users to send as well as receive money instantly and convert them into local currency. As part of the news that Coinbase expands, the report concluded:
"Realizing our mission of creating an open financial system for the world starts with making it as easy as possible to access crypto. With today’s announcement, we’re happy to take an important step in that direction."Earlier in April this year, Coinbase also launched the Coinbase Card in a partnership with Visa, enabling its United Kingdom-based customers to pay in-store and online using cryptocurrencies. As a result, the new service will allow Coinbase to instantly convert the customers' cryptocurrency funds into fiat currency in order to complete each purchase. This is definitely a lot of news coverage showing that Coinbase expands in different directions and is on a mission to offer various trading options globally.
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