cryptonews.net
Over the past 24 hours, the cryptocurrency Bitcoin Cash (BCH) has risen in price by 32% thanks to the people of South Korea, who began to actively buy the altcoin. The share of the largest South Korean exchange Upbit accounted for almost 24% of the volume of Bitcoin Cash trading in the amount of $350 mln. It is noteworthy that the demand for Bitcoins on this platform turned out to be three times lower.
What caused such an interest of South Koreans in BCH is still unknown. In the US, for example, the popularity of a digital asset has grown due to the opening of the EDX Markets crypto exchange with the support of large enterprises from Wall Street. Four coins are presented on this trading platform, including Bitcoin Cash.
The price of BCH started skyrocketing on June 21st and this morning reached its highest since April 2022 at $36.48 on Coinbase. The cost of the coin has increased by 190%, so a correction should occur in the near future. Most likely, the price of Bitcoin Cash will drop to the bullish trend line, which is now running around $219.
Image: Binance Academy