The hard fork token from Bitcoin, known as Bitcoin SV, continues to rise and has crossed $100 for the first time since February 2022.
The price spike, which is noteworthy for having increased by almost 110% in just one week, is mostly attributable to increased trading activity and interest in the South Korean market.
Upbit Spurs Bitcoin SV Surge: Insights
Upbit, the biggest cryptocurrency exchange in South Korea, has been the center of this increased interest in BSV. On New Year’s Day, Upbit registered a significant $275 million in BSV trading activity.
With a total trading volume of $753.5 million, this trading frenzy has driven Bitcoin SV’s market cap to $1.7 billion.
The trend is not exclusive to Upbit, as the trading volume of the token on OKX has also significantly increased, surpassing $47.5 million. In the past 24 hours, BSV’s trading activity has surged by more than 300%.
By trading volume, Bithumb, a significant regional exchange, ranks among the top three as well. Notab
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