Bitcoin Cash Spikes 20 Percent in the Wake of Upcoming Hard Fork Backed by Binance

Sunday, Nov. 4: crypto markets have seen a lot movement today, with most of the top 20 coins by market cap seeing significant growth, and with Bitcoin Cash spiking almost 21 percent by press time.

Trading around $420 for the most part of the week, Bitcoin Cash started this upward trend on Nov. 2.The fourth top coin is up around 30 percent over the past 7 days in the wake of the now-second largest global crypto trading platform Binance recent announcement of support for Bitcoin Cash's upcoming hard fork.

As of press time, the major cryptocurrency is down some 0.4 percent and trading at $6,327.

The coin is down around 2.2 percent over the past 7 days, and Bitcoin's dominance on the market has slightly dropped over the day from 53.3 percent to its current 52.5 percent.

Ethereum, the second cryptocurrency by market cap, is up almost 1.5 percent over the past 24 hours and trading at around $203 at press time.

Ripple, the third top cryptocurrency by market cap, is seeing similar gains, up around 1.3 percent and trading at $0.46.

The cryptocurrency is balancing its weekly gains, up around 0.8 percent over the past 7 days.

All the coins are up more than 7 percent over the past 24 hours, and trading at $55, $0.08, and $166 respectively at press time.

They will support the upcoming Bitcoin Cash hard fork, which will take place when "The median time past of the most recent 11 blocks is greater than or equal to UNIX timestamp 1542300000."

The exchange notified its users that deposits and withdrawals of Bitcoin Cash will be suspended starting on Nov. 15, claiming that users should leave enough time for deposits to be processed in "Full prior to this time."