OKEx-First Crypto Currency Exchange To Embrace Bitcoin Cash Market
by Ricky Makan Co-Founder at Unkrypted
Crypto-currency exchange OKEx created the first Bitcoin cash marketplace, allowing clients to buy and sell tokens openly alongside BCH without the use of BTC or ETH as a mediator.
On Monday (11th December 2017) Hong Kong-based exchange made the declaration, disclosing that consumers at present have the permission to enter in a dozen of BCH trading pairs.
The news is important, because of OKEx at present ranks sixth among crypto-currency exchanges in entire trading volume, according to information from CoinMarketCap. Over the last 24 hours, OKEx has processed more than $1.3 billion in exchanges, and it is possible that the new trading pairs will further boost Bitcoin cash’s everyday trading volume, which regularly surpasses $1 billion.
In addition to increased liquidity, the formation of a BCH marketplace further strengthens Bitcoin cash’s significance as a top-tier crypto-currency and split it from other altcoins that were formed throughout Bitcoin forks.
The Bitcoin cash value traded up on the news, although it is hard to measure the exact bang of the BCH marketplaces since there are several other aspects at play. Initially, Bitcoin cash supporter Roger Ver made a high-profile appearance on CNBC yesterday (12 December 2017), where he endorsed Bitcoin cash to audiences who had probably never listened about it. After that, the crypto-currency marketplace made a general upswing on Tuesday (13th December 2017), and Bitcoin cash’s increase is approximately in line with that drift.
However, the statement is probably optimistic for Bitcoin cash moving forward, especially if other exchanges build BCH marketplace as well.
The formation of the first Bitcoin cash marketplace was just one of an outbreak of the expansion that OKEx declared this week. The company also launched a fiat-to-token trading platform. Finally, the exchange declared that it will support “all important Bitcoin technical expansion roadmaps,” together with the seven hard forks that have been planned for the month of December only.
Created on Dec 15th 2017 02:29. Viewed 197 times.