Bitstamp, the twelfth largest crypto exchange by volume and the seventh highest ranked exchange on BestBitcoinExchange.io, recently announced it would support Bitcoin Cash (BCH) trading starting the first week of December.
Bitcoin Cash is currently trading around $1600. Although originally supported by only a handful of exchanges following its creation on August 1st, BCH’s recent price surges have spurred demand for it on other platforms. It currently holds the third highest market cap at $26 billion, behind Bitcoin and Ethereum.
An announcement on the Bitstamp website states:
In response to the demand we have been seeing for Bitcoin Cash trading (BCH) and as part of our efforts to list more currencies, we have decided to provide trading support for the following three pairs: BCH/USD, BCH/EUR, and BCH/BTC.
Bitcoin Cash will be the fifth tradeable cryptocurrency available on Bitstamp. Three of its four other available currencies – Bitcoin, Ethereum, and Ripple – all claim the top four highest market caps, with Bitcoin Cash filling in third. It’s fifth cryptocurrency, Litecoin, sits at seventh.
The Winding Path Towards Acceptance
The announcement marks a significant milestone for Bitcoin Cash, which contentiously divided the crypto community well before its creation on August 1. It was created following deep disagreements over how to expand Bitcoin network capacity and resolve burgeoning congestion issues.
Proponents of Bitcoin Cash favored increasing Bitcoin’s block sizes, an “on-chain solution”, rather than adopting another proposal named Segregated Witness (SegWit), an “off-chain solution”. Debates over the proper solution effectively split the community into two camps. When SegWit was ultimately locked in by voter consensus, supporters of big blocks decided to fork Bitcoin and create Bitcoin Cash instead…