Tron (TRX) Price Analysis: Signs of A Strong Rally To $0.02

12m
livebitcoinnews

Bitcoin Goes Above $10K 15 Minutes After President Trump's Speech on Law and Order

30m
cryptoglobe

African-American business leaders on George Floyd |

35m
cryptonewmedia

Japanese Finance Minister May Be Opposed to Lowering Tax on Crypto

36m
cryptonewmedia

2 Swiss Banks Launch Cryptocurrency Trading and Custody After Gaining Regulatory Approval

36m
cryptonewmedia

Ethereum Layer-2 Scaling Initial Deployments Successful

1h
beincrypto

Bitcoin Cash Rallies 8%: Here’s Why A Surge To $300 Is Likely

1h
cryptonewmedia

‘Woke’ Khloe Kardashian Desperately Wants to be an Activist

1h
cryptonewmedia

Ethereum Price Analysis: ETH Eyeing More Upsides Above $250

1h
livebitcoinnews

Bitcoin Surges Above $10,000 Registering Almost 6% Growth

1h
cryptonewmedia

Bulls Brace For Fireworks As Bitcoin Breaks $10K, What’s Fueling the Rally?

1h
zycrypto

Cryptographic Tech May Overhaul ID Verification in UK Conveyancing Industry

1h
beincrypto

The Secret, Absurd World of Coronavirus Mask Traders and Middlemen…

2h
cryptonewmedia

Web3 Brands and the Decentralized Renaissance – Cointelegraph Magazine

2h
cryptonewmedia

Ethereum Classic Follows Up on Ethereum with Phoenix Hard Fork

2h
bitcoinnews

US Turmoil and Negative Interest Rates – Billionaire Michael…

2h
cryptonewmedia

Bitcoin About To Enter A Full-Blown Bull Market Based On This...

2h
zycrypto

Bitmain Unveils Cheaper T19 Bitcoin Miner to Regain Lost Market Share

2h
thebitcoinnews

Bitcoin Smashes $10K: Key Reasons Why BTC Could Correct Before Fresh…

2h
cryptonewmedia

Walmart China brings VeChain’s Food Traceability Platform to Sam’s Club China

2h
cryptonewmedia

Bitcoin Braces for $11,000 on Weaker Dollar Demand

3h
bitcoinist

‘Financial Surveillance’ or ‘Blockchain Analysis’? Human Rights Foundation Debates Elliptic

3h
cryptonewmedia

Madoff fund litigator on SCOTUS denial to hear HSBC v. Picard |

3h
cryptonewmedia

Swiss Bank Maerki Baumann Launches Crypto Custody and Trading

3h
cryptonewmedia

It's a layer 2 world, and Ethereum is almost living in it

3h
tokendaily


Bitcoin SV (BSV) Mysteriously Jumps 90% to Become a Top Five Cryptocurrency

cryptoglobe

5mon ago

Bitcoin Satoshi’s Vision (BSV), a cryptocurrency created through a hard fork of the Bitcoin Cash (BCH) network, has mysteriously risen 80% over the last 24-hour period to become a top five cryptocurrency by market cap.

At press time, BSV is trading at $313 after rising 90% in the last 24-hour period. In the last 30’ days, the cryptocurrency’s price has surged 237.8%. The rise has seen it become the fifth-largest cryptocurrency by market cap, as its circulating supply is now worth $5.56 billion.

Source: CryptoCompare

The motives behind the cryptocurrency’s sudden surge are currently unclear. While some believe large players are simply entering the cryptocurrency space and showing preference for BSV, others have other theories. Notable Bitcoin SV supporters include billionaire entrepreneur Calvin Ayre and self-proclaimed Satoshi Nakamoto Craig Wright.

On Twitter, some have pointed to screenshots showing supposed messages from Craig Wright himself implying the private keys to the so-called Tulip Trust, which is said to have 1.1 million BTC in it, have arrived. If they have indeed arrived, BSV supporters may be buying the cryptocurrency expecting Craig to dump the 1.1 million BTC, now worth over $9.5 billion, for the cryptocurrency he supports.

"Keys have arrived." "Real?" "Yep" That's what we needed to get this thing to $200. 👍 pic.twitter.com/dUHbS7smKx

Using data from CryptoCompare it seems clear that BTC isn’t being dumped on a large scale for BSV. Most other cryptocurrencies, including BTC, are up between 6% a 27% in the last 24-hour period, with Dash and BCH being the only top altcoins moving over 20% in said period.

While BSV is up 80% against BTC, data shows only 20.5% of its rising trading volume is against BTC, and nearly 58% of it is against the USDT stablecoin. In both cases, volume appears to be evenly spread out across top cryptocurrency exchanges.

Source: CryptoCompare

Calvin Ayre, reacting to the price rise on Twitter, retweeted others pointing out that if the surge keeps going BSV will soon flip BCH in terms of market cap, which is itself a fork of the original BTC blockchain. At the time of the hard fork, BCH and BSV supporters were locked in hashrate wars as one side threatened to attack the other if it got to control 51% of its hashrate.

Ayre also claimed that the price rise can’t be attributed to a single factor, instead claiming it’s the result of a combination of things. Among them were the “world realizing Craig is Satoshi.”

Its no one thing. Its a combination of things. The world realizing #CraigisSatoshi, its sinking in why scaling matters and how nChains patents make it impossible for others to copy #BSV's massive scaling ability. Understanding that real value comes from utility, only BSV.

Bitcoin SV’s hashrate has also been rising as a result of the pump, so much so that in the last hour 12 blocks have been mined as miners are likely rushing to mine the cryptocurrency to be able to sell it at these prices – or hold onto it.

Source: Coin.Dance

Featured image  by Chris Liverani on Unsplash.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments