Bitcoin Cash Has Nearly Doubled Since Monday

Bitcoin cash has surged recently, climbing upwards of 100% since Monday morning and leaving other top cryptocurrencies in the dust. This digital currency, a fork of the original bitcoin, skyrocketed to $324.57 today,CoinDesk price data reveals. At this point, it was up roughly 94.4% from its Monday low of $166.93 and 102% year-to-date, additional CoinDesk figures show. In addition, the digital currency was trading at its highest point since roughly mid-November.[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Fundamental Drivers Some analysts pointed to fundamentals as fueling these gains, including a sharp increase in bitcoin cash futures trading on Kraken subsidiary Crypto Facilities, which was reported by CoinDesk earlier this week. Another factor that was cited as potentially pushing bitcoin cash higher was the launch of the digital currency's Simple Ledger Protocol, which allows developers to create new tokens that can be traded on bitcoin cash's blockchain.