Bitcoin Cash price (BTC/USD) reaches new highs on growing adoption

on Dec 19, 2017

The Bitcoin Cash price (BCH/USD) has reached a new all-time high amid news of more businesses backing the cryptocurrency.

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According to data from cryptocurrency tracker Coinmarkecap, earlier in today’s trading the Bitcoin offshoot broke above $2,500 for the first time in history, notching up a record price of $2,501.29. The Bitcoin Cash price is currently hovering around $2,300, giving the cryptocurrency a total market capitalisation of $38 billion.

BCH’ record-breaking run comes amid news that Thomson Reuters has added Bitcoin Cash to its financial information platform Eikon. This means that financial professionals using the platform will now have access to real-time market data and other information regarding the cryptocurrency. The move makes BCH the third cryptocurrency listed on the platform, with the other two being its larger rivals Bitcoin (BTC) and Ethereum (ETH).

In other positive new for the cryptocurrency, Bitcoin payment service BitPay last Friday announced that it was expanding support for the cryptocurrency. Having added BCH to its wallet app in September, the company now plans to enable BCH support for its payment processing services. It said that the decision was made in response to “growing demand from our merchants and their customers”.

“We will begin adding support for a Bitcoin Cash payment option this year, starting with BitPay Card loads. All BitPay invoices will include a Bitcoin Cash payment option by default in early 2018,” BitPay said.

In today’s trading, the Bitcoin Cash price stood at $2,302, as of 15:21 GMT. The coin has risen 7.8% in the past 24 hours.