While Bitcoin maintains a relatively steady position this week, its fork, Bitcoin SV ($BSV), has emerged as a notable player with significant upward momentum.
Of course, this is despite Bitcoin experiencing a correction around the $44K mark. Also, Bitcoin SV has seized the spotlight with remarkable breakthroughs in the market.
Notably, in the last 24 hours, Bitcoin SV ($BSV) has also witnessed an impressive notable surge of 65%. Thereby, contributing to its overall positive performance. Furthermore, there’s also a substantial portion of the trading volume, accounting for 65%.
Bitcoin SV (BSV), a fork of Bitcoin, has risen 65% in the last 24 hours. 65% of the trading volume is concentrated on Upbit, South Korea’s largest exchange, showing that Korean traders are the main driving force. Coinbase previously announced that it would stop supporting BSV on… pic.twitter.com/11CSMrNYPg
— Wu Blockchain (@WuBlockchain) December 28, 2023
This is majorly concentrated on Upbit, South Korea’s largest exchange. Which of course, indicates that Korean traders play a pivotal role in driving this recent price surge. Additionally, Coinbase’s earlier announcement of discontinuing support for $BSV on January 9, 2024 has now also added an intriguing dimension to the current developments.
$BSV Price Action To Watch
As regarding the price action for $BSV, over the past 7 days, Bitcoin SV has also exhibited a remarkable gain of over 82%. This further solidifies its position as a standout performer while the rest of the market is seeing some minor decline following Bitcoin’s move.
Currently, as of the latest 24-hour timeframe, $BSV continues to climb more highs, marking a yearly high at $94. As expected, this recent surge in price is complemented by a noteworthy 190% increase in trading volume. Further reflecting heightened market activity and investor interest.
To conclude, Bitcoin SV’s $BSV is currently seeing an exceptional performance, particularly in contrast to the broader market trends. Which further highlights its resilience and attractiveness to traders and investors alike.
Finally, the surge in both price and trading volume underscores the significant impact of regional market dynamics. This is supported by the Korean traders who are prominently influencing $BSV’s recent ascent.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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