Bitcoin SV (BSV) Surges Over 58% This Week Following Inclusion in New Binance Perpetual Contracts
Bitcoin SV (BSV) Soars by Almost 60% This Week with the Introduction of New Futures on Leading Global Crypto Exchange, Binance
The cryptocurrency, Bitcoin SV (BSV), a fork from Bitcoin Cash (BCH) in late 2018, is currently trading at $54.02 as of the time of this writing, marking a notable increase from $34.08 just one week ago. In the past 24 hours alone, this 43rd-ranked crypto asset by market capitalization has surged by more than 27%.
On Thursday, Binance unveiled a new trading option, the "USD-M BSV Perpetual Contract," which was officially launched on Friday. This contract offers traders the potential to leverage their investments up to 50x and settles in the popular stablecoin, Tether (USDT).
Despite the significant gains in its price over the past week, it's worth noting that BSV is still down by nearly 89% from its all-time high of $490, which it achieved in April 2021. In fact, the asset reached its lowest point at $21.43 just this past June.
Bitcoin SV, positioned as a peer-to-peer electronic cash system, claims to embody the original vision of Bitcoin's pseudonymous creator, Satoshi Nakamoto. It was initiated by the controversial Australian computer scientist Craig Wright, who asserts that he is Nakamoto, a claim widely disputed and rejected by most of the crypto community.
BSV's blockchain is designed to address efficiency issues present in both Bitcoin (BTC) and Bitcoin Cash (BCH) by significantly increasing the block size, thereby reducing transaction fees.
Bitcoin Cash itself emerged from a fork of Bitcoin in August 2017.
Oct 24, 2023