Bitcoin cash skyrocketed 80 percent 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 percent in that time period.
Bitcoin cash since its inception
Source: Coinbase
The original bitcoin, meanwhile, fell more than 9 percent on Wednesday to $16,680, according to Coinbase.
—CNBC’s Evelyn Cheng and Reuters contributed to this report.
