Fledgling Bitcoin Cash’s trading price climbed above the $400 boundary today, smashing the rangebound market trend of the past several days.
The cryptocurrency rose as high as $406 today, according to reliable news out of CoinMarketCap. The move followed days of market fluctuating, with the price of Bitcoin Cash trading litte more than a few dollars above or just under the $300 mark.
The biggest Bitcoin Cash market by actual volume is Bithumb, which accounts for roughly 30% of the global trade through its Korean won-Bitcoin Cash trading, CoinMarketCap data shows. This exchange reported more than $145 million in volume over the last 24 hours.
Previously reports by CoinDesk, Bitcoin Cash split off from the biggest bitcoin blockchain earlier in the month when a grouping of miners and developers opted to adopt software, with new rules, that was incompatible with the rest of the bitcoinnetwork. The result was that bitcoin “forked” off into two blockchains with their own freely-traded digital identities.