Bitcoin Cash, an altcoin which was created from a hard fork of the Bitcoin blockchain is gaining steam with an increasing number of trading and exchange platforms, including eToro and Bitstamp, announcing plans to support the cryptocurrency.
While cryptocurrency exchange Bitstamp is planning on a Bitcoin Cash listing either later this month or in early December, eToro has already begun allowing clients to buy the cryptocurrency.
On eToro, Bitcoin Cash has joined over 1,200 instruments, including other cryptocurrencies like bitcoin, ether, ethereum classic, litecoin, dash and ripple.
eToro is an European social trading and investing platform known for its support for cryptocurrencies. In July, it launched the Crypto CopyFund trading strategy, which offers investors exposure to the most popular cryptocurrencies in one portfolio.
The company says it holds the “wider ambition to simplify cryptocurrency investing and act as an accelerant for the adoption of blockchain technology.”
Commenting on the launch, Yoni Assia, co-founder and CEO of eToro, said:
“The popularity and support for Bitcoin Cash has been clear amongst our user base, which has been asking for eToro to add Bitcoin Cash to the platform in growing numbers.
“The growth of Bitcoin Cash proves there is space for healthy competition in the battle for the future of currency.”
Assia is bullish on cryptocurrencies which he argues “will be the investment story of the 21st century.”
“We have long argued that cryptocurrencies represent an important part of our shared future. We believe the growth in cryptocurrencies is only just beginning and that the price growth we are seeing in cryptocurrency assets still does not reflect the future potential of blockchain technology,” Assia said.
Last week, a planned hard fork on the Bitcoin blockchain that sought to increase the block size to 2Mb, the so-called SegWit2x fork, was abruptly called off. The days that followed saw Bitcoin Cash skyrocket in value, soaring as high as high as US$2,500 on Sunday. By Monday it had tumbled nearly 60%. Bitcoin Cash is now trading at around US$1,093 and is the third largest cryptocurrency with a market capitalization of US$18 billion.