Bitcoin Cash prices rise to four-month high with 77% increase in open interest.

Bitcoin Cash (BCH) has experienced a significant increase of 36.5% in the past three days. This is due to its listing on EDX, an exchange supported by Fidelity, Schwab and Citadel, alongside bitcoin (BTC), ether (ETH) and litecoin (LTC).

In the past 24-hours alone, the value of Bitcoin Cash has risen by over 10% to $143, which is its highest value since February, according to blockchain data.

The open interest, which is a metric used to determine the nominal value of open trades on a specific asset, has increased by 77% to a nine-month high of $135 million according to Coinalyze data. This rise in open interest indicates a shift towards positive sentiment and the hope that the asset will experience institutional adoption after being listed on EDX.

Bitcoin Cash was created in July 2017 when it forked the original Bitcoin’s blockchain. It reached a record high of $2,947 during the peak of the 2017 bull market. However, despite early optimism, the adoption of Bitcoin Cash as a payment network has not been as significant as its sibling.

Over the past seven days, the total amount of transactions on the Bitcoin Cash network worth more than $100,000 is $129 million. In comparison, Bitcoin has facilitated $75 billion in transactions during the same period, according to data from IntoTheBlock.

Edited by Parikshit Mishra.

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