ViaBTC, a major cryptocurrency mining pool company, has reportedly raised $30 million in a little over 2 hours via an ICO conducted on the Bitcoin Cash (BCH) blockchain, a first of its kind.

According to the company’s website, the ViaBTC Token (VIAT) is used as “gas,” acting as a value transfer tool for various privileges on ViaBTC. 750 million VIAT was sold in the ICO on October 8 and fifty percent of the fixed 2 billion token supply will be released and issued via the method of “DUO Mining.” This functions to deliver daily VIAT payouts based on user mining activities.

The excitement surrounding ViaBTC ICO is evident, as the current landscape for these offerings has been cooling in recent months. This is likely driven by the novelty of it being the first Bitcoin Cash ICO, coupled with the ongoing interest in the controlling influence of major mining pools.

This news comes several days after Bitcoin.com CEO and notable Bitcoin Cash advocate, Roger Ver, revealed that he is exploring ways to acquire or launch his own cryptocurrency exchange. According to reports, this new exchange effort is part of a plan to boost liquidity for Bitcoin Cash, while also promoting traffic to come to Bitcoin.com, which also features various wallet products and news.

BCH currently holds a market cap of $7.81 billion, making it the 4th largest cryptocurrency in the AltDex 100 Index (ALT100).

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.