Bitcoin SV Soars Over 60% in 24 Hours
Date: 2023-12-28 Author: Dima Zakharov Categories: BLOCKCHAIN
The Meteoric Rise
Bitcoin SV, a cryptocurrency aiming to restore the original Bitcoin vision by focusing on larger blocks and enhanced network scalability, has seen its value skyrocket. As of December 28, 2023, at 11:00 AM Moscow time, the coin was trading at $91.7, catapulting it to the 50th spot among cryptocurrencies by market capitalization, which now stands at $1.79 billion.
Trading Surge and Local Impact
Market researcher Colin Wu highlighted the sharp increase in trading volumes for BSV. What's intriguing is that 65% of this trading activity occurred on South Korea's largest exchange, Upbit. This suggests that local traders are the driving force behind the surge. Wu also pointed out that Coinbase had previously announced its decision to stop supporting BSV starting on January 9, 2024.
Bitcoin SV's Vision
Bitcoin SV's core vision is to provide a decentralized platform for various applications and services utilizing blockchain technology. BSV aims to become a global electronic cash system, enabling instant and cost-effective transactions. Its key principles include protocol stability, scalability, and low transaction fees.
Upbit Exchange
Upbit, established in 2017, offers a wide range of cryptocurrency trading options. It facilitates the buying, selling, and exchanging of various digital currencies using fiat currencies like the Korean Won (KRW). Upbit offers a variety of trading features, including limit and market orders, analytical tools, and security measures. The exchange also supports cryptocurrency deposits and withdrawals while maintaining a high level of security through modern technology and multi-factor authentication.
