Bitcoin Cash news

Bitcoin Cash surged almost 40 %, making it the top‑performing layer‑one for the year, according to Crypto Koryo. Its price rose to $578.05, with a market cap of $11.53 billion and a 24‑hour volume of $264.8 million. The analyst noted the rally occurs despite no official X presence. Koryo attributes the outperformance to supply‑side factors: no token unlocks, no foundation treasury or venture‑capital dumping, leaving the entire supply in circulation. New demand catalysts further fuel the gains. The article also highlights Bitcoin’s potential pullback to $87 k before a rebound to $100 k, and mentions Texas becoming the first U.S. state to purchase and hold Bitcoin, but the focus remains on BCH’s record performance.

Coinbase Markets announced it will launch 24/7 trading for futures on a range of altcoins including SHIB, BCH, DOGE, ADA, AVAX, LINK, DOT, HBAR, LTC, XLM, and SUI, starting Dec. 5. The move expands the platform’s regulated derivatives offering, which already includes BTC, ETH, SOL, and XRP. Coinbase also plans U.S. perpetual‑style futures for the same altcoins, settling on a five‑year expiry, to give U.S. traders a compliant, institution‑friendly alternative to offshore futures markets.

Bitcoin Cash (BCH) broke $550 on a heavy-volume surge, trading 328% above average and forming higher lows that confirm an uptrend. The breakout began in Asian hours, breaking $547 at 1 a.m. UTC with a 130,078-unit candle, and tested $553.50 in a subsequent pullback. Weekly gains of 4.8% for BCH versus Bitcoin's 1.2% decline support the rally, while resistance sits at $558.25. Traders now watch for a break of $553.50, which could trigger a retest of the $547 support; risk control is advised below $534.36.

Bitcoin Cash (BCH) surged 7% to $647, its highest level since April 2024, amid a risk‑on environment triggered by the Fed’s rate cut and SEC approval of generic ETF listing rules. The rally echoes a bullish breakout seen earlier in July after a prolonged consolidation. Santiment notes the move follows extreme bearish sentiment turning bullish; other tokens such as DOT, SUI, JUP, and NEAR also gained. BCH’s next resistance lies at $719, the 2024 high.

The SEC has pushed back its decision on the Grayscale Hedera Trust to a new deadline of November 12. On the same day Grayscale filed updated registrations for its Bitcoin Cash and Litecoin trusts, both of which will seek listing on NYSE Arca. The firm also filed an S‑1 for a new Hedera trust that would trade under ticker HBAR, pending Nasdaq’s request to allow its exchange listing. The SEC normally has 180 days to decide a rule change and may add a 60‑day extension to review comments or amendments. This delay echoes a broader pattern, as the commission has extended deadlines for other crypto ETFs, leaving more than 90 applications waiting for action.

Grayscale filed SEC proposals to convert its Bitcoin Cash, Hedera, and Litecoin closed‑end trusts into ETFs, targeting NYSE Arca or Nasdaq listings, following the 2024 conversion of its Bitcoin and Ethereum products. The filings include S‑1 and S‑3 documents that assume the 19b‑4 application has been approved; they note the trust’s Bitcoin Cash holdings valued at over $202 million. The SEC has delayed action on Grayscale’s spot Hedera ETF and Bitwise’s dogecoin ETF, while spot bitcoin ETFs launched in January 2024 have already seen more than $1.2 trillion in cumulative trading volume.

Grayscale filed with the SEC to launch three new crypto ETFs—Litecoin, Bitcoin Cash, and Hedera—adding to its existing Bitcoin and Ether offerings. The S‑1 and S‑3 filings follow prior moves to convert its Litecoin and Chainlink trusts into ETFs, reflecting a rapid push for diversified crypto products. The applications come as other issuers, including Fidelity and VanEck, also submit proposals. While the SEC, led by Chair Paul Atkins, has postponed decisions on many crypto ETFs, a green light would broaden regulated exposure for mainstream investors.

HBAR surged 27% in 24 hours to a 4‑month high, pushing its market cap above $10.7 billion and overtaking Bitcoin Cash. The Chaikin Money Flow indicator is near 0.20, signalling the altcoin may be overbought and a short‑term pullback could follow. HBAR’s strong correlation with Bitcoin (0.94) and Bitcoin’s climb toward a $120,000 all‑time high may help cushion the token from a sharp correction. Trading at $0.25, the current resistance level, HBAR must break to reach $0.267; if it fails, prices could fall to $0.22 or $0.188. Investors are cautious, as the rally slows and profit‑taking could accelerate a reversal if overbought conditions materialize.

Tether announced it will wind down USDT on Omni Layer, Bitcoin Cash’s Simple Ledger Protocol, Kusama, EOS, and Algorand, effective September 1, 2025, with all tokens frozen that day. The move follows a decline in usage of these legacy chains, which now represent only a small fraction of the $156 billion float. The firm will redirect support to Layer-2 networks such as the Lightning Network and newer blockchains offering faster settlement and richer developer tools. Token holders are urged to redeem or migrate their USDT via bridges or exchanges; the bulk of the supply remains on Tron and Ethereum.

Tether announced that, effective September 1, it will discontinue USDT redemptions on five legacy blockchains—Omni Layer, Bitcoin Cash SLP, Kusama, EOS (now Vaulta), and Algorand—after a phased withdrawal that began two years ago. The move is part of the company’s “infrastructure optimization” strategy to reallocate resources toward more active, scalable networks. CEO Paolo Ardoino said the step allows Tether to focus on platforms with higher developer activity and community engagement, which he said are key to future stablecoin adoption. The five chains had seen a steep decline in USDT usage and trading volume. Customers are urged to redeem or re‑issue their tokens on supported networks before the cutoff, with third‑party services available for non‑directly served holders. Tether will continue to pursue new integrations and prioritize Layer 2 solutions such as the Lightning Network for broader interoperability.