Bitcoin SV (BSV) crypto records surge in price and volume. What's next?

Be the First to Comment Read

Bitcoin SV (BSV) crypto records surge in price and volume. What's next?

Follow us on Google News:
 Bitcoin SV (BSV) crypto records surge in price and volume. What's next?
Image source: © Shahurin | Megapixl.com

Highlights

  • The BSV crypto is the native token of Bitcoin SV, and there will be a maximum of 21 million tokens in circulation.
  • On Monday morning, it appeared that the Bitcoin SV (BSV) crypto was gaining investors' attention.
  • As of 2 AM EST, the market cap of the BSV crypto was US$ 1.4 billion, and it is ranked 60 out of 19,212 cryptocurrencies in the world.

The cryptocurrency market is going through turbulent times, and its market cap has continuously remained below the US$ 2-trillion mark. Due to significant fluctuations in the market, a sudden rise in the price and volume of cryptocurrencies often attracts the attention of crypto enthusiasts and traders.

On Monday morning, it appeared that the Bitcoin SV (BSV) crypto was gaining investors' attention due to the rise in its price and volume. As of writing, the BSV crypto was up about three per cent to US$ 75.46 per token, and its volume was up eight per cent to US$ 187.8 million.

Despite increased volatility, the crypto market was recovering slowly on May 2 and recorded a 2.3 per cent surge in the global crypto market cap. At the time of writing, it had increased to US$ 1.76 trillion.

Also Read: What is Dallas Cowboys crypto? All you need to know

The two largest cryptocurrencies worldwide, Bitcoin and Ethereum (ETH), were up 2.2% and 2.7%.

What is Bitcoin SV (BSV) crypto?

After a hard fork of the Bitcoin Cash (BCH) in 2018, the BSV crypto emerged to achieve the Bitcoin protocol and design goal. Bitcoin SV aims to offer scalability as a peer-to-peer electronic cash system and support applications based on blockchain technology.

As per the official website, the Bitcoin SV network is aligned with Bitcoin's original design and has a capacity for unbounded on-chain scaling.

The BSV crypto is the native token of Bitcoin SV, and there will be a maximum of 21 million tokens in circulation. According to CoinMarketCap data, the circulating supply of the BSV crypto is 19.04 million tokens.

As of 2 AM EST, the market cap of the BSV crypto was US$ 1.4 billion, and it is ranked 60 out of 19,212 cryptocurrencies in the world.

Almost all the major cryptocurrency exchanges have listed BSV crypto, including KuCoin, Bithumb, OKEx, and Huobi Global.

BSV crypto

Bottom line

The price increase of the BSV crypto could be due to overall growth in the market. Also, on April 29, the Bitcoin SV network tweeted that a next-generation cybersecurity tool would be deployed on the BSV blockchain.

Despite the gain in the price and volume of the BSV crypto, it is uncertain to say what's next for the cryptocurrency. The crypto market is highly volatile and predicting the future of a cryptocurrency is almost impossible. 

Often, cryptocurrencies get investors' attention when there's some development. However, that shouldn't be the only criteria for investing in a particular virtual currency. Research and assessment of your risk capacity are essential before buying a cryptocurrency.

Also Read: Zilliqa (ZIL) crypto soars amid a rising market. Here's why

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

Disclaimer

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK