Bitcoin Cash Surges 20.8% as Crypto Market Rallies

Bitcoin Cash (BCH) surged by 20.8% on Wednesday, leading the CoinDesk 20 Index higher. The index, which tracks the performance of 20 leading cryptocurrencies, rose by 2.0% to 2910.89.

Eighteen of the 20 assets in the index were trading higher, with BCH and Chainlink (LINK) leading the gains. BCH's surge comes amid growing interest in the cryptocurrency as a potential alternative to Bitcoin (BTC) for everyday transactions. LINK, meanwhile, continues to benefit from its integration with decentralized finance (DeFi) platforms.

On the other hand, Sui (SUI) and XRP were the laggards, falling by 0.3% and 0.1% respectively. SUI's decline may be attributed to a recent sell-off in the broader cryptocurrency market, while XRP's performance has been volatile in recent weeks due to regulatory uncertainty.

The CoinDesk 20 Index is a broad-based index traded on multiple platforms in several regions globally, providing a comprehensive view of the cryptocurrency market.