Connect with us

Bitcoin Cash

Bitcoin SV [BSV] crashes after bull run as investor sentiments take a hit

Namrata Shukla

Published

on

Bitcoin SV [BSV] crashes 27% after bull run as investor sentiments take a hit
Source: Unsplash

After siding with the bull on Tuesday and making its way to the CoinMarketCap’s top-10 list, Bitcoin SV [BSV] has fallen prey to the bear once again. After having grown 80% in the past seven days, on Wednesday, BSV started trading after falling 27% and had slipped to the ninth position.

On the other hand, the market that was covered in red on Tuesday, appears to be bullish on Wednesday. At the time of writing, BSV was trading at $92.87, after going down over 9% over the past 24 hours.

Source: CoinMarketGap

Source: CoinMarketGap

According to the CoinMarketCap, the coin was trading at $83.99, with a 24-hour trade volume of $2.62 billion. The maximum trading volume was registered by Upbit, a South Korean cryptocurrency exchange, on the BSV/KRW trading pair. The second and third positions were held by Binance in the BCHSV/USDT and BCHSV/BTC trading pairs respectively.

Upbit registered a 24-hour trade volume of $79 million, while Binance registered a 24-hour trading volume of $67 million and $52 million on the BCHSV/USDT and BCHSV/BTC pairs respectively. Binance was followed by Bithumb, Coinsuper, and Gate.io.

The cryptocurrency had gained the brief momentum after Dr. Craig Wright, the Chief Scientist at nChain, aka Faketoshi, tweeted:



“On Friday, at Coingeek week, I will be announcing a game changing new tech we have for SV. Bitcoin as it was originally intended And, only SV”.

Calvin Ayre, the founder of Ayre group and a key player in the crypto market, had earlier stated that BSV’s return was in the form of an “original Bitcoin” and the future of BSV.

He said that BSV has better technology and stated:

“It is a superior technology, head and shoulders above any other chain, and this has been proven when we mined a 64 MB block on the BSV chain last week. No other crypto platform is even close to scaling this much, and this is only the beginning of BSV’s scaling road map.”





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

News

Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Guest Author

Published

on

Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.

Read more at https://bit.ly/2VRQwb0

2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.

Read more at https://bit.ly/2W40sTR

3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.

Read more at https://bit.ly/2X6fdlw

4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.

Read more at https://bit.ly/2McaTjE

5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.

Read more at https://bit.ly/2wmk4mJ

6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.

Read more at https://bit.ly/2HUEnNB



7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.

Read more at https://bit.ly/2W64KKj





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending