Cryptocurrency Bitcoin Cash grew by 100% in a week

One of the oldest altcoins, Bitcoin Cash, has doubled in price since the beginning of the week, from $ 106 to $ 214. Analysts attribute this growth to the support of the altcoin by the new cryptocurrency exchange EDX Markets.

At the time of publication, Bitcoin Cash’s capitalization reached $ 4.5 billion. Over the past day, the altcoin has risen by $ 13%, and over the past seven days — by 101%. Altcoin itself was launched in 2017 and is one of the oldest bitcoin forks.

The launch of the EDX Markets trading platform has had an impact on the entire cryptocurrency market, including bitcoin. The exchange is supported by major financial institutions such as Citadel Securities, Fidelity, Charles Schwab, Paradigm, Sequoia Capital, and Virtu Financial. The highlight of the platform is a «non-custodial model» of work — clients' funds are stored in a third-party service, not on EDX Markets accounts.

In addition to BTC and BCH trading, EDX Markets offers ETH and LTC trading. However, although these cryptocurrencies showed growth this week, it was not as significant as Bitcoin Cash.

Despite the significant growth of Bitcoin Cash, the coin is still trading 94% below its historical records in December 2017.