Bitcoin Cash Surges in Value Following Introduction by EDX Markets

**Bitcoin Cash Soars After Listing on EDX Markets Exchange Backed by Traditional Finance Giants**

Bitcoin Cash has experienced a dramatic surge in value following its listing on the cryptocurrency exchange EDX Markets. This new exchange, supported by renowned names in traditional finance such as Citadel Securities, Fidelity, and Charles Schwab, has offered four cryptocurrencies at its launch, including Bitcoin, Ether, Bitcoin Cash, and Litecoin. Since the announcement, the price of Bitcoin Cash has more than doubled, reaching a trading value of approximately $235 as of Tuesday morning. Over the past 24 hours alone, the coin’s price has increased by nearly 20%.

**Regulatory Boost for Bitcoin Cash**

Bitcoin Cash’s upward trajectory has been further amplified by recent developments in the legal landscape. Unlike Binance and Coinbase, which faced lawsuits by the Securities and Exchange Commission, Bitcoin Cash was not named as a security in these actions. This omission has instilled a renewed sense of confidence among investors, suggesting that regulators may be overlooking the coin. In fact, SEC Chairman Gary Gensler differentiated Bitcoin Cash, Litecoin, and Ether from other cryptocurrencies in a video from 2018, declaring them not to be securities. This statement contrasted with Gensler’s usual stance that almost all cryptocurrencies, excluding Bitcoin, fall under the security category.

**Genesis of Bitcoin Cash**

Bitcoin Cash emerged as a result of a dispute between Bitcoin’s users and developers over the blockchain’s future direction. In 2017, a group advocating for a greater emphasis on consumer payments initiated a “fork” in the blockchain to create Bitcoin Cash. Despite its significantly lower value compared to its counterpart, Bitcoin, which was trading around $30,700 at the time of writing, Bitcoin Cash remains a top 20 cryptocurrency with a market capitalization exceeding $4.5 billion.

**Conclusion**

Bitcoin Cash has witnessed a remarkable surge in value following its listing on EDX Markets, a cryptocurrency exchange supported by industry giants in traditional finance. The coin’s price has more than doubled since the announcement, reaching approximately $235 as of Tuesday morning. Bitcoin Cash’s exclusion from recent Securities and Exchange Commission lawsuits against major exchanges has further bolstered investor confidence. Additionally, the distinction made by SEC Chairman Gary Gensler between Bitcoin Cash, Litecoin, and Ether as non-securities has contributed to the coin’s upward momentum. Although Bitcoin Cash’s value remains significantly lower than Bitcoin, it still maintains a strong position as a top 20 cryptocurrency. With the support of influential players in both crypto and traditional finance, Bitcoin Cash is positioned to continue its growth trajectory in the market.