Summary
- "Whale transaction volume for Bitcoin Cash (BCH) surged 122.45%, marking a 7-month high."
- "Large transaction volume exceeding $100,000 reached approximately $482 million the previous day."
- "The latest surge in BCH also appears to be driven primarily by large investors."
Bitcoin Cash (BCH) has reached a 7-month high, driven by a surge in whale transactions, according to recent analysis.
On the 4th (local time), cryptocurrency media U.Today, citing data from on-chain analytics firm IntoTheBlock, reported that "the previous day, the volume of large transactions exceeding $100,000 surged by 122.45%, reaching approximately $482 million."
The media outlet stated, "BCH also experienced sharp increases in whale transactions followed by short-term price rises in February, May, and June this year," adding that "the latest price jump also appears to be driven by large investors rather than retail participants."
Previously, on the 1st, BCH rose to $528, marking its highest price in 7 months.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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