Main price maker enters the market as BCH hits its biggest daily trading total since March!

Following the approval of cryptocurrency ETF in Canada and Europe, investor expectations for the U.S. Securities and Exchange Commission's (SEC) approval of BlackRock's Bitcoin ETF program have heated up. According to Eric Balchunas, a senior ETF analyst at Bloomberg, BlackRock's ETF has a +99.8% success rate of approval, with 575 approvals and only one denial.
 
On the back of the positive news, Bitcoin jumped about 27% in October, marking its biggest one-month gain since January. Meanwhile, at a time when the average daily on-chain trading volume was relatively flat, BCH also saw its largest average daily trading total in three months, signaling the entry of Main price maker.
 
Looking back at BCH's market performance over the past six months, there are multiple positive changes that are being focused on.
 
1. Improved liquidity: the liquidity of the assets held affects the liquidity of the ETF product itself, so ETF programs favor highly liquid cryptocurrency. According to Kaiko data, since the third quarter, the price of BCH nearly tripled in early July, realizing liquidity growth far beyond that of Bitcoin and Ether.
 
2. Resistant to downturns and volatility: ETF pursues a diversified portfolio, utilizing diversification to reduce the potential volatility of individual cryptocurrency prices. In a bear market, it is expected that ETF will seek more anti-decline and anti-volatility cryptocurrency. And compared to BCH's change in trading volume and market capitalization this year, it reflects more stable price volatility.
 
3. Sustained growth: Due to the adoption of the POW consensus mechanism, the mining cost ensures the basic value of BCH. Competitive transaction fees also underpin its long-term robust growth. It is understood that, as a veteran cryptocurrency, BCH has been the global offline payment track, the growth of the most robust one.
 
If the Bitcoin ETF is approved it will attract more high-frequency investors and stimulate the market to generate greater trading volume . The ETF, which prefers assets with relatively stable performance and potential for continued growth, is also expected to further boost the prosperity of the derivative coin market represented by BCH.