Bitcoin Cash's price (Bitcoin.Cash) rose above the $500 mark against the US Dollar, breaking the rangebound market trend of the past several days, News BTC reported.
The price made a solid uptrend over the past 24 hours and traded higher by more than $300. A high was formed at $519.31 where sellers started to appear.
According to Coinmarketcap, Bitcoin Cash's price has reached even higher mark of $567,76
Later it slipped down and is currently trading below $500.
More than 50% of Bitcoin Cash’s total trading volume is accounted for the Korean exchanges Bithumb, (38.45%), Korbit (7.72%) and Coinone (5.80%).
During the past few days, Bitcoin Cash's price showed a consolidation below the $300 level and after consolidating for a long time gained heavy bids and made a solid upside move above $300. The price rocketed higher and broke many hurdles on the way up towards $500 which it also broke through.
It was reported earlier that Swiss Falcon Private Bank is going to expand its cryptocurrency support adding three new blockchain assets will begin supporting — ether, litecoin (LTC/USD) and Bitcoin cash.