The Crypto Markets in Green, Bitcoin Cash Rallies After Bitmain Files For IPO
Crypto markets are seeing another flush of green with virtually all of the top 100 cryptocurrencies by market cap in the green.
XRP the digital asset of US tech firm Ripple saw the biggest gains, doubling in price since Wednesday to rise above $0.50 for the first time since June.
The bearish trend reversed in the early afternoon, with Bitcoin breaking through the day’s major resistance levels to an intraday high $554.7 before easing back through the third major resistance level at $522.83 by the day’s end.
While Bitcoin Cash rallied climbing more than 20% after Bitmain filed an application to hold an initial public offering (IPO) in Hong Kong.
The digital currency, which is a fork of the original bitcoin, climbed to $538.37 at 12:04 UTC on CoinMarketCap. At this point, bitcoin cash was up 23.7% from the start of the day, reaching a nearly three-week high, additional CoinMarketCap data reveals.
Earlier today it was reported that Bitmain Technologies has for the first time revealed its financial statements and filed for an IPO in the Hong Kong stock exchange.
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