Why Bitcoin Cash Is Up 40% Over The Past Month

Bitcoin Cash BCH/USD, a peer-to-peer digital currency designed to offer faster and cheaper transactions compared to Bitcoin BTC/USD, has surged 40.7% to $520.08 over the past month, buoyed by historic levels of institutional investment in cryptocurrency as Bitcoin nears the $100,000 level.

What To Know: According to CoinShares, digital asset investment products saw a record-breaking $3.13 billion in net inflows last week, driven primarily by Bitcoin exchange-traded funds (ETFs), which alone accounted for $3.12 billion. Year-to-date inflows now stand at $37 billion, signaling growing confidence in cryptocurrencies as a mainstream asset class.

While Bitcoin dominated these inflows with $3 billion, altcoins like Bitcoin Cash have seen renewed interest. BCH, which emerged from a 2017 Bitcoin hard fork, aims to enhance transaction speed and scalability. It benefits from its association with Bitcoin while providing utility as a decentralized payment network, gaining traction as blockchain adoption grows.

Meanwhile, short-Bitcoin products saw $10 million in inflows, reflecting mixed market sentiment as Bitcoin prices hover near all-time highs.

As institutional investments flood the space, Bitcoin Cash has capitalized on broader market enthusiasm, positioning itself as one of the favored altcoins in the digital currency ecosystem.

Read Also: Why Bitcoin’s Rally Is Stalling Below $100,000