Bitcoin Cash Price Surges 17% as August Gains Top 25%
The Bitcoin Cash price surged by 17% on August 21, breaking through a multi-month downtrend in a single session. This move confirmed August as Bitcoin Cash's strongest month in over two years, with the token up more than 25% for the month so far.
The rally is accompanied by a wave of ecosystem news around payments and infrastructure, giving the price movement more than just a technical story behind it. Paytaca launched a self-custodial payment card at the Cash 3.0 Conference in Cebu City in early August, which allows users to spend Bitcoin Cash directly from the card while keeping control of their funds.
The derivatives volume nearly doubled over the past 24 hours, jumping 97.81% to $806.02M, as traders rushed to react to the breakout. The open interest climbed 37.83% to $511.59M, meaning a lot of that fresh trading is staying open rather than closing out fast.