๐๐๐ Korean Traders Drive #BitcoinSV (BSV) Surge, Price Soars by 65% in 24 Hrs ๐๐๐
Bitcoin SV (BSV), a derivative of Bitcoin, has surged by an impressive 65% in the last 24 hours, with Upbit, South Korea's largest exchange, taking the lead in trading activity.
Upbit accounts for a significant 65% of the total trading volume, underscoring the substantial impact of Korean traders on the surge in BSV's value.
As of the latest data, Bitcoin SV is priced at $85.26, marking a remarkable increase of nearly 74% in the past seven days and 55% within the last 24 hours, according to #CoinGecko .
Coinbase, the largest U.S.-based exchange, recently announced its decision to cease support for BSV starting January 9, 2024.
Simultaneously, Bitcoin, the foremost cryptocurrency, has surpassed the $43,000 mark again, contributing to an overall market cap of $1.71 trillion. Market attention is currently focused on the potential approval of a spot #BitcoinETF , with analysts speculating that approval could come in the first week of January 2024.
In the realm of popular altcoins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Dogecoin (DOGE), positive market movements have been observed.
Upbit continues to dominate the South Korean crypto exchange market, boasting an 80% market share. Other major exchanges, including Bithumb, Coinone, and Korbit, also hold significant positions, with Bithumb securing the second-largest share at 15% to 20%, while Coinone and Korbit maintain more modest shares at 3% to 5% and less than 1%, respectively.
Source - Jai Pratap @jai-pratap
Website - Cryptonews
