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Bittrex to launch a US Dollar market for Bitcoin Cash tomorrow

Published

6 years ago

on

Bitcoin Cash

On the last week of September, one of the most popular cryptocurrency trading platforms, Bittrex, officially announced to the world their intentions of supporting Bitcoin Cash (BCH), the 4th largest virtual currency in the world in the US dollar market.

According to information made public, the official date of the Bitcoin Cash US market launch will be on 3rd October. Also, traders and investors who activated their Bittrex accounts before 5th September are already entitled to the US dollar exchange. The exchange Tweeted, today:

In a few hours, 3rd October, cryptocurrency exchange, Bittrex, will be launching the much awaited and exciting US dollar market for Bitcoin Cash (BCH).

Preceding to the listing BCH, Bittrex also added Tron (TRX) and Litecoin (LTC) into their growing portfolio recently pairing them with US dollar to its platform.

During the time Bittrex was onboarding Tron (TRX) on its platform, the exchange was quick to make it known that they were the first platform that facilitated the US dollar market for Tron (TRX) in the United States.

Bittrex also made it clear the importance of launching assorted US dollar markets for virtual currencies. By creating and launching diverse US dollar markets, the platform aids in avoiding a single or a particular virtual currency holding dominance in the crypto market.

Brief History of Bittrex Exchange and their Contribution in Allowing Investors Swap Dollars for Virtual Currency

Thanks to the recent endeavors of Bittrex, investors, and traders can now buy virtual currencies using US dollars.

Bittrex, a cryptocurrency exchange that is based in Seattle has bumped into an understanding with the relevant market players to allow investors and traders to purchase digital assets with American dollars.

Regarded widely as one of the most secure virtual currency’s exchanges in the United States, Bittrex has a custom exchange engine developed to execute and process orders efficiently and quickly.

The exchange company was founded by ICT and security experts in 2014 who had more than 50 years of combined skill and knowledge. The headquarter of Bittrex is in Las Vegas, Nevada and its commitment to security is unmatched as it offers a wide variety of virtual currencies that are solely confirmed as trustworthy digital coins/assets.

Apart from Bitcoin Cash (BCH), Bittrex cryptocurrency platform has other relevant digital coins listed on their platform for trading. Such digital assets include Zcash (ZEC) and Cardano (ADA) although the crypto exchange is limited regarding geographical coverage.

Growing demand from potential customers is on the rise, bombarding the management of the exchange to expand their services to all quarters of their jurisdiction.

Recently, Bitcoin Cash (BCH) has been in the limelight for all the right reasons. Last week, the BCH experienced a sudden appreciation of price increase by 20 percent adding over 1 billion US dollars to its market capitalization.

News revolving around the sudden price surge in Bitcoin Cash (BCH) prices introduces Bitmain’s IPO filing, a mining giant. According to analysts, since Bitmain held huge reserves of the digital coin, a portion of the funds from the multi-billion-dollar fundraising will likely be put to task in the development of the cryptocurrency.

Also, apart from Bittrex, Bitcoin Cash has been receiving massive adoption in the market. Recently, Gemini, a reputable cryptocurrency exchange in the league of Bittrex, got the regulatory go-ahead to add Bitcoin Cash (BCH) to its trading platform.

According to official sources, BCH will be listed shortly on Gemini. And going by the recent activities, the Bitcoin Cash platform is making significant improvements in their system by adding new upgrades that contain censorship-resistant file storing system.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Jonas Verstuyft on Unsplash

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

Published

4 months ago

on

December 27, 2023

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

Published

4 months ago

on

December 22, 2023

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama…

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Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

Published

5 months ago

on

December 1, 2023

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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