The Bitcoin Cash (BCH) blockchain’s hard fork, BSV, has been making record-breaking gains. With a price surge of more than 70% as of this writing, the cryptocurrency hit $84.8, a level not seen since April 2022.
The spike may be attributed to the prevailing optimistic market sentiment, however there are other factors at play for Bitcoin SV.
BSV’s Surge: South Korea Dominates
With this latest surge, BSV’s monthly gains have surpassed 82%, and its trading volume has risen noticeably to over $770 million. This rise appears to be influenced by the persistently optimistic market sentiment in the larger cryptocurrency market, with South Korean investors especially playing a significant role.
Upbit, a well-known cryptocurrency exchange in South Korea, was responsible for $515 million worth of BSV trades in the last day, according to CoinGecko data. With more than 67% of the transaction volume, it commands a huge proportion. This suggests that South Korean investors are interested in BSV
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