Ethereum Rises to $380 and Bitcoin Cash Price Surges by 31%

Today, on November 23, the Ethereum and Bitcoin Cash price rose significantly within a 24-hour period, as the price of Ether surpassed $380 while Bitcoin Cash recorded a staggering 31 percent daily increase.

Bitcoin Cash’s Price Surge

Since last week, the price trend of Bitcoin Cash has demonstrated an inorganic growth rate, as it rose from $800 to $2,900, and fell back to $1,200. For any leading cryptocurrency such as bitcoin, Ether, and Bitcoin Cash, a 31 percent overnight increase from $1,150 to $1,620 is not organic, and is likely triggered by a sudden movement of large sums of capital from one cryptocurrency to the other.

But, the Bitcoin Cash market and industry are growing at a rapid rate, primarily due to the increasing adoption of the cryptocurrency amongst bitcoin platforms. Most recently, Bitstamp and Blockchain, major bitcoin exchanges and wallet platforms, announced their plans to integrate Bitcoin Cash by the end of 2017.

The integration of Bitcoin Cash by Bitstamp will grant the cryptocurrency with more liquidity apart from South Korean trading platforms such as Bithumb, Korbit, and Coinone, which have been accountable for nearly 60 percent of global Bitcoin Cash trades.
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