This morning, the bitcoin cash-U.S. dollar (BCH/USD) exchange rate clocked an 11-day high of $1,623.80 at 08:14 UTC before losing some momentum.
At press time, the world’s third-largest cryptocurrency by market value is currently changing hands at $1,508 – up 21 percent for the last 24 hours, as per CoinMarketCap.
A look at the exchange data indicates that the rally is being fuelled by Korean desks. Trading volumes in BCH/KRW pair offered by Bithumb, one of the largest cryptocurrency exchanges in South Korea, have gone up by 42 percent in the last 24 hours.
Driving the rise may be today’s news that a South Korean financial regulator has said it has “no plans” to regulate cryptocurrency trading…