Bitcoin SV continues its upward trend, surpassing the $100 threshold for the first time since February 2022.
This significant price increase, up more than 102% in one week, is mainly due to increased interest and trading activity in the Korean market. Korean cryptocurrency exchange Upbit has been at the center of this heightened activity centered on BSV. Today Upbit recorded a whopping $275 million in BSV trading volume.
This price surge follows an even more impressive trading day last week on Boxing Day, when Bitcoin SV traded at over $500 million. This trend is not limited to Upbit. This is because OKX has also seen a significant increase in token trading volume, with current trading volume exceeding $47.5 million. BSV’s trading volume has increased by over 300% in the last 24 hours.
Bitcoin SV, short for Bitcoin Satoshi Vision, is a cryptocurrency that emerged from the hard fork of Bitcoin Cash in November 2018. It aims to remain faithful to the original vision of Bitcoin as outlined by its pseudonymous creator, Satoshi Nakamoto.
Bitcoin SV advocates emphasize scalability, stability, and security, with the goal of making it an enterprise-grade blockchain and peer-to-peer cash system. Bitcoin’s recent rise and the prospect of SEC approving a spot ETF have sparked interest in BSV.