eToro, a social trading network, has pushed ahead with its plans to broaden its cryptocurrency offering, citing enough liquidity and strong customer demand. The company announced that it has enabled the trading of Bitcoin Cash (BCH), the digital currency that was spun out of the original Bitcoin earlier this year.
In addition to Bitcoin Cash, eToro customers can already trade the actual underlying assets of Bitcoin, Ethereum, Ethereum Classic, Litecoin and Ripple. The company is also offering access to the five cryptocurrencies, plus exposure to Dash, through its recently launched investment instrument Crypto CopyFund.
The latest member of the cryptocurrency family was created in August after a faction of Bitcoin developers forced the blockchain to split into two separate chains, allowing miners to more rapidly process transactions in larger units known as blocks.
Crypto Daily Sponsors Singapore’s 2019 Run for Light EventGo to article >>
The company now offers its clients easy access to the price movement of Bitcoin Cash through the BCH/USD pairing, which is now live and available for demo and live accounts. eToro has routinely been at the forefront of cryptocurrency trading, having been one of the first online brokerages to offer Bitcoin trading.
Bitcoin Cash has recently drawn notable attention and demand as it is rapidly rising in price after the planned third fork, SegWit2x, was cancelled due to lack of crucial support from parts of the cryptocurrency community.
Bitcoin Cash (BCH) has experienced extreme price volatility over the past week. The recently forked cryptocurrency jumped off $600 lows to over $2,500, allowing some investors to realize more than 300 percent profit in a couple of days.
At one point, Bitcoin Cash surpassed Ethereum as the second-largest cryptocurrency and was valued at over a third of Bitcoin itself. However, that idyllic position didn’t last – since that peak the digital currency has declined massively.