Update: GDAX halted trading of Bitcoin Cash shortly after trading began. A large number of sell orders are still on the hook at $8499.03 while prices on other exchanges remain in the $3500 range.
Coinbase, in a bit of a surprise announcement, notified its users that Bitcoin Cash is now available to customers that held bitcoin at the time of the August fork. While it was widely known that BCH support was coming, most expected it would take until Q1 2018 before Coinbase customers could claim and trade their BCH.
Bitcoin Cash prices responded well by spiking to an all-time high near $3500.
Full text of the announcement here:
“Dear GDAX Customer,
We’re happy to announce that Bitcoin Cash (BCH) is now listed and available for trading on GDAX. We made this decision by considering such factors as customer interest, developer support, network security, market capitalization, trading volume, and our Digital Asset Framework. You can read more about Bitcoin Cash on our FAQ page.
The following order books have been created and will remain in post-only mode until there is sufficient liquidity for trading:
Bitcoin Cash was created by a fork of the Bitcoin network on August 1st, 2017. All customers who held a bitcoin (BTC) balance on GDAX at the time of the fork have been credited an equal balance of Bitcoin Cash (BCH) in their GDAX account. Your BCH balance will reflect your BTC balance at the time of the Bitcoin Cash fork, which occurred on August 1, 2017 at 13:20 UTC (block #478559). You can read more about what a bitcoin fork is here and our previous update on Bitcoin Cash here.
The GDAX Team”
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