Bitcoin SV continues its rally, crossing the $100 threshold for the first time since February 2022.
This significant uptick in price, representing an increase of over 102% within a week, is largely attributed to growing interest and trading activities in the South Korean market. The Korean cryptocurrency exchange Upbit has been a focal point of this heightened activity around BSV. Today, Upbit recorded a substantial $275 million in BSV trading volume.
The price jump follows an even more impressive trading day on Boxing Day last week, where the exchange saw over $500 million in Bitcoin SV transactions. The trend is not limited to Upbit, as OKX has also experienced a significant rise in the token’s trading, with today’s 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 a hard fork of Bitcoin Cash in November 2018. It aims to stay true to the original vision of Bitcoin as outlined by its pseudonymous creator, Satoshi Nakamoto.
Advocates of Bitcoin SV emphasize its scalability, stability, and security, aiming to make it an enterprise-level blockchain and peer-to-peer cash system. Bitcoin’s recent rally and the prospects of spot ETF approval by the SEC drive interest in BSV.