Bitcoin Cash was the top performing digital asset this month, with most of the gains coming in the last week and a half following its listing on EDX Markets, the crypto exchange backed by Fidelity, Charles Schwab and Citadel, that debuted June 20.
The token gained 171% over the month, outperforming bitcoin , the world’s largest cryptocurrency, which added 14%, CoinDesk data show. At one point on FridayThe surge was backed by a notable increase in trading activity on South Korea's most prominent digital assets exchange, Upbit. Data tracked byshow the bitcoin cash-Korean won pair listed on Upbit has registered a trading volume of $558 million in the past 24 hours. That's nearly 3.
Bitcoin cash’s outperformance in June may be attributed to a perception that forks of the Bitcoin blockchain may pose a lower regulatory risk, said Matt Kunke, a research analyst at GSR. “Liquidations were also a key component of BCH strength, particularly during the last day, as ~$15m of shorts were liquidated, the most out of any coin excluding BTC/ETH,” he said.
June has not only seen the two largest crypto exchanges, Binance and Coinbase, under fire from the U.S. Securities and Exchange Commission, which
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