Bitcoin SV continues its rally, crossing the $100 threshold for the primary time since February 2022.
This vital uptick in value, representing a rise of over 102% inside every week, is essentially attributed to rising curiosity and buying and selling actions within the South Korean market. The Korean cryptocurrency alternate Upbit has been a focus of this heightened exercise round BSV. Right this moment, Upbit recorded a considerable $275 million in BSV buying and selling quantity.
The value soar follows an much more spectacular buying and selling day on Boxing Day final week, the place the alternate noticed over $500 million in Bitcoin SV transactions. The pattern isn’t restricted to Upbit, as OKX has additionally skilled a big rise within the token’s buying and selling, with right this moment’s quantity exceeding $47.5 million. BSV’s buying and selling quantity has elevated by over 300% within the final 24 hours.
Bitcoin SV, quick for Bitcoin Satoshi Imaginative and prescient, is a cryptocurrency that emerged from a tough fork of Bitcoin Money in November 2018. It goals to remain true to the unique imaginative and prescient of Bitcoin as outlined by its pseudonymous creator, Satoshi Nakamoto.
Advocates of Bitcoin SV emphasize its scalability, stability, and safety, aiming to make it an enterprise-level blockchain and peer-to-peer money system. Bitcoin’s current rally and the prospects of spot ETF approval by the SEC drive curiosity in BSV.