Bitcoin Cash price (BCH/USD) breaks above $4,000 as GDAX trading resumed

Bitcoin Cash price (BCH/USD) breaks above $4,000 as GDAX trading resumed
Written by:
Farquar McIntosh
21st December 2017
Updated: 11th March 2020

The Bitcoin Cash price (BCH/USD) has surpassed $4,000, as BCH trading on Coinbase’s GDAX exchange has been resumed.

The third-largest cryptocurrency on the market surged after its listing on GDAX on Tuesday, which caught the market by surprise. However, trading on the largest US crypto exchange was abruptly halted, as prices soared about $6,000 above those listed on other trading platforms.

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Yesterday GDAX resumed trading of Bitcoin Cash, although the move was limited only to its BCH/USD offering. The exchange clarified the situation in a subsequent status update.

“The BCH-EUR and BCH-BTC books will now enter cancel-only mode and resting orders will be cleared. No new orders will be accepted while in cancel-only mode,” the update reads. “At 7:00am PST on 12/21/17, the BCH-EUR and BCH-BTC books will enter post-only mode for a minimum of one hour to allow liquidity to be established. If sufficient liquidity is established trading may then be enabled for one or both books.”

Meanwhile, the Bitcoin Cash price yesterday hit an all-time high of $4,355.62, as its daily volume surged to a record $11.9 billion. The cryptocurrency ended the session at $3,923.07, according to data from Coinmarketcap. In today’s trading, Bitcoin Cash price has largely remained in the $3,600-$3,700 area, while prices on GDAX has been generally lower than the market average.

As of 13:24 GMT, the Bitcoin Cash price stood at $3,653.26, up 3.5% from the same time yesterday. The token’s total market capitalisation currently stands at $61.6 billion.

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