Bitstamp, one of Europe's oldest and largest cryptocurrency exchanges, has officially announced it will begin trading Bitcoin Cash (BCH) in early December. As a major licensed platform within the European Union and a globally recognized exchange, this decision has already had a substantial impact on the market, driving a sharp price increase for BCH.
Announcement and Trading Pairs
On November 21, Bitstamp revealed through its official channels that it will support Bitcoin Cash trading during the first week of December. The exchange plans to open three distinct trading pairs: BCH/USD, BCH/EUR, and BCH/BTC. This move is significant due to Bitstamp's historically conservative approach to listing digital assets.
Bitstamp's Cautious Listing Strategy
Unlike many other platforms that list numerous cryptocurrencies, Bitstamp has maintained a highly selective approach. For years, the exchange offered trading for only four digital currencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP). Furthermore, trading was exclusively against the US Dollar, Euro, and Bitcoin.
The decision to add Bitcoin Cash follows a statement from the exchange in September, in which it indicated plans to list BCH due to significant client demand. However, due to market volatility at the time, the listing was postponed. This demonstrates the platform’s methodical and careful strategy for introducing new assets.
Leadership’s Perspective on the New Listing
Nejc Kodrič, CEO of Bitstamp, emphasized the company’s mission, stating that since 2011, the goal has been to provide the market with the most secure and reliable digital assets. He highlighted that the exchange focuses on stable, organic growth and only lists currencies for which there is clear market demand. This official endorsement underscores Bitcoin Cash's perceived reliability and significant user interest.
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Immediate Market Impact and Price Surge
The announcement had an immediate and powerful effect on the price of Bitcoin Cash. In the days leading up to the news, BCH was trading at approximately $1,160. On the evening of November 22, the price began a rapid ascent.
Data from leading market aggregators shows that BCH reached a high of $1,718, representing a near 50% increase from its previous level. The upward momentum continued following the initial spike. Among thousands of digital assets, Bitcoin Cash maintained its position as the third-largest cryptocurrency by market capitalization.
Concurrent Surge in Network Hashrate
In a correlated development, the Bitcoin Cash network experienced a dramatic increase in its hashrate—a key measure of the computational power securing the blockchain. Within a single hour, the hashrate effectively doubled, jumping from 57.97 PH/S at 10:00 PM to 117.4 PH/S by 11:00 PM on November 22. At the time of writing, the network is supported by over 10,500 active mining machines, producing a hashrate of 119.5 PH/S.
This surge in mining activity indicates strengthened network security and heightened miner confidence following the exchange’s announcement.
Future Market Expectations
The market has clearly responded positively to the news of Bitstamp's upcoming support for Bitcoin Cash. Analysts and community observers anticipate that the actual commencement of trading in early December could catalyze another period of increased market activity and potential price appreciation for BCH. The listing on a reputable, compliant exchange provides enhanced accessibility and liquidity for the asset.
Frequently Asked Questions
What is Bitstamp?
Bitstamp is a major European cryptocurrency exchange, known for being one of the oldest and most established platforms. It is a fully licensed operator within the EU and is a significant venue for trading digital assets against fiat currencies like the US Dollar and Euro.
Why is Bitstamp listing Bitcoin Cash important?
Due to its conservative and selective listing policy, a new asset on Bitstamp signals strong institutional confidence and substantial user demand. It provides a legitimate and regulated gateway for a wider audience to access BCH, increasing its liquidity and market presence.
What caused the price of BCH to increase?
The price surge was a direct market reaction to the listing announcement. Anticipation of increased demand from Bitstamp's large user base, combined with the added legitimacy, drove buying activity and upward price momentum.
What does a rising hashrate mean for Bitcoin Cash?
A increasing hashrate indicates that more miners are dedicating computational power to secure the Bitcoin Cash network. This enhances network security, makes the blockchain more resistant to attacks, and signals miner confidence in the long-term value of BCH.
When will BCH trading begin on Bitstamp?
The exchange has announced that Bitcoin Cash trading will go live in the first week of December. Exact timing for the launch of the BCH/USD, BCH/EUR, and BCH/BTC trading pairs will be provided by the exchange closer to the date.