Reuters’ Eikon Platform Added Bitcoin Cash for Trading
Bitcoin Cash was opened for trading on August 1, 2017. It is a hard fork of Bitcoin. With Bitcoin (BTC) grabbing all the headlines in the recent weeks, the recent Bitcoin Cash news has heightened the euphoria surrounding the cryptocurrency space.
Bitcoin Cash recently was added to Bloomberg terminal challenger platform Eikon. This seems to be inspired by the huge wave of interest in digital currencies in the trading community and many financial institutions. This platform will help thousands of finance professionals who are interested in Bitcoin Cash to have access to asset data.
Eikon was launched in 2010 as Reuters’ financial information platform and Bitcoin was added to it in 2014. There are more than 400 exchanges and OTC-traded exchanges linked by platform.
This recent change follows the one by Bloomberg when it added ethereum, ripple and Litecoin data to its service. With Bitcoin Cash gaining more adoption, the development was bound to come sooner rather than later. Bitpay, which is the largest Bitcoin payment processor in the world, has also announced a few days back that it will start processing Bitcoin Cash payments. The payment processing for Bitcoin Cash is expected to begin in early 2018.
This means that all BitPay transactions will be sent to a BCH invoice. The company BitPay made an announcement:
“Demand for Bitcoin transactions is outstripping capacity, causing miner fees to rise on the Bitcoin network. With average transaction fees already around $20, we understand that Bitcoin alone cannot handle the current demand for blockchain payments. You will also continue to only receive the settlement type you have chosen, with zero volatility risk from price swings.”
These developments are the result of Bitcoin Cash price inching higher consistently.
After starting off at a meager value of around $400, Bitcoin Cash price peaked to $2,245 yesterday in a matter of four months. Bitcoin Cash price has hovered around low values of $300, in October and November after it surged around $700 in August. And as we discuss this, BCH has crossed $2,390 as per coinmarketcap.
Bitcoin and Bitcoin Cash gained an attention from investors and traders. Currently, not only finance professionals but also conventional financial software companies want to add Bitcoin Cash on their platforms.