Bitcoin cash was best performing crypto token in June, almost tripling over the course of the month. LedesmaLyllah reports.
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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