After the pause and the suspicion of a potential hack or malicious exchange, Coinbase has resumed trading of Bitcoin Cash – only hours after its initial effort to launch a market for the breakaway currency. As of yesterday, the digital asset exchange on Coinbase named GDAX has resumed the trading.
As you probably know, the Bitcoin Cash trading was halted last night after the cryptocurrency reached as high as $9,500 on some exchanges, a level which represented a large premium over other exchanges. GDAX was one of the exchanges where that happened – however, the problems were resolved and the exchange began allowing access to the virtual currency soon afterwards.
Still, according to GDAX data, an amount that is worth roughly $39 million or 11,591 in BCH – was exchanged in the first 15 minutes of trading alone. The entire situation sparked controversy pointing to certain allegations that insider trading may have occurred ahead of the BCH market launch on Coinbase.
However, the Coinbase CEO wrote a statement soon after that, saying that the company is investigating whether any employees had traded on the pre-public news. Currently, the Bitcoin Cash trading is resumed – however – there may be delays on the bank wires of customers interested to invest in the currency. As Coinbase has wrote on their page:
“Wire deposits and withdrawals may be delayed by up to 5 business days. Rejected [and] reversed wires will now be processed within 48 business hours.”
The current price of Bitcoin Cash at the market is $3,672, marking another 9% growth in only one day and nearly 300% growth in only a couple of days. The heavy activity and the paused buys and sells didn’t seem to affect the price of this coin – which is constantly on the rise.
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