Bitcoin fell more than 10 percent on Wednesday to a one-week low of $15,800 at cryptocurrency exchange Bitstamp, losing almost one-fifth of its value from a peak hit just three days ago. Newslook
Bitcoin cash skyrocketed 80% to break above $4,000 on Wednesday after the leading cryptocurrency exchange said it would begin trading in the bitcoin offshoot.
Bitcoin cash traded at $4,329.52 on Coinbase as of 12:12 p.m. ET time.
Coinbase said traders would be able to buy and sell the digital currency ” once there is sufficient liquidity” on the GDAX exchange, which is owned by Coinbase.
Bitcoin cash was created on August 1, when Hong Kong-based digital currency exchange Bitfinex said a group of bitcoin miners would be “forking” from the main bitcoin to create a new version that trades faster and easier.
The new digital currency has had a staggering run higher ever since its split off, rising more than 880% in that time period.
The original bitcoin, meanwhile, fell more than 9% on Wednesday to $16,680, according to Coinbase.
CNBC’s Evelyn Cheng and Reuters contributed to this report.
© CNBC is a USA TODAY content partner offering financial news and commentary. Its content is produced independently of USA TODAY.
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Bitcoin cash skyrockets 80%, breaks above $4,000
The bitcoin offshoot traded at $4,329.52 on Coinbase at noon. The original bitcoin, meanwhile, fell more than 9% to $16,680, according to Coinbase.
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