Bitcoin Cash (BCH) surged 10% after completing its reward halving event, while bitcoin (BTC) remained mostly unchanged at just above $66,300. The halving event reduced BCH's block reward to 3.125 BCH, leading to increased interest in leveraged bets on expected price volatility. The cryptocurrency market as a whole showed little change in the past 24 hours, with some tokens like Ether (ETH) and BNB Chain’s BNB seeing slight gains, while others like dogecoin (DOGE) and XRP experienced minor declines. Analysts expect the current market lull to be temporary, with traders likely waiting for macroeconomic catalysts before making significant moves.
Bitcoin Cash (BCH) has experienced a surge of 33.9% in its price within 24 hours following its listing on EDX Markets and increased trading interest on a South Korean exchange. The listing on EDX Markets, backed by Citadel Securities, Fidelity Digital Assets, and Charles Schwab Corp., is seen as a positive sign for BCH's regulatory clearance. The token's price had been suppressed for the year but has risen significantly since the listing, reaching levels last seen 14 months ago. The surge in trading volume is partly driven by a short squeeze and a spike in volume on the South Korean exchange Upbit, with BCH/KRW trading volume on Upbit twice that of BCH trading volumes on Binance.
The crypto market is waiting for the US Federal Reserve's interest rate hike announcement, which could impact the market. Here are five cryptocurrencies to watch: FLOW, FIL, XDC, ZIL, and BCH. FLOW has a high correlation with Bitcoin and could retest $1.939 in the long term. FIL has been going up since the launch of its virtual machine and could fall to its crucial support at $4.881 if it fails to break through resistance at $6.4. XDC is a fork of Ethereum with a delegated proof-of-stake mechanism and has been performing well, with the potential to flip resistance to support. ZIL's decentralized ecosystem is growing in popularity, and the token could target $0.3062 for gains in the short to medium-term. BCH is a Bitcoin fork with faster transaction times and fees and could target $153.11 for a bigger upside.
