BITCOIN CASH ADDS 20%, TOTAL MARKET CAP SURPASSES $250 BILLION
In the last 24hours, the trading volume of bitcoin cash in Bithumb, one of the biggest cryptocurrency
exchange systems, increased by 65% to $1.6 billion on the back of reports of the Financial
Supervisory Service (FSS), South Korea's integrated financial regulator, not seeing it
necessary to supervise exchanges. As of writing, the BCH/USD pair was trading at $1565, up
$270, or 20.6%, on the day.
Despite the relatively quiet price action, however, bitcoin remains the most popular digital
currency with a 53% dominance of the total market cap. Since touching its record high at
$8380 on Tuesday, the BTC/USD pair is having a difficult time determining its next short-term
direction and was last seen moving sideways near the $8200 mark, where it was virtually
unchanged on the day. On the other hand, the ETH/USD pair is up 10% at $420.
Speaking at a conference in Basel on Thursday, SNB Chairman Thomas Jordan said central
banks were working on the issue of cryptocurrencies very intensively. ”I would look at them
more as an investment than a currency. It is important to say it is not a question of
technology, but a question of who has access to central bank money and in what form. There
are up to now many unsolved questions,” Jordan further argued.