Flash Hike: Bitcoin SV price surges by 16% in an hour
May 29, 2019
Bitcoin SV, the tenth largest cryptocurrency in the world, surged by a massive 17% in 3 hours according to Trading View. This surge in BSV’s price comes after the recent surge of 200% in less than 3 hours, which occurred on 21 May 2019.
As seen in the image below, the price of Bitcoin SV, the fork of Bitcoin Cash, rose from $119 and stood at $146, at press time. The coin surged by an approximate of 16% in one hour on Bittrex exchange. The market cap of BSV, at the time of writing, was $2.39 billion.
While the rest of the top 10 cryptocurrencies were struggling to rise by 1% in an hour, Bitcoin SV surged frantically and was only $300 million short of overtaking Stellar Lumens, in terms of market cap.
According to CoinMarketCap, the trading volume for BSV was flowing from CoinBene exchange as it provided a maximum of 8.34% of the total trading volume, i.e, $449 million via BSV/USDT trading pair. OKEx exchange provided about 8.10% of the total trading volume via the same trading pair, which was followed by Huobi exchange.
In addition, the BSV Scaling Test Net has been testing a higher block size of more than 1 GB as an on-scaling technique, which might get implemented on the mainnet after successful testing. The STN printed a couple of blocks with approximately 1.4 GB size.
Moreover, the price surge for BSV is not new as it has surged by approximately 142% in less than 8 days, which when compared to Bitcoin is staggering. Bitcoin surged by approximately 135% since the start of 2019.