Cryptocurrency markets have had a surprising standout performer yesterday in Bitcoin SV (BSV), at one point in the day’s trading session the toked surged over 200 percent on some exchanges.
At around 13:15 UTC, the 11th largest crypto by market cap rank BSV reached a 24-hour high of $139.31, more than 120 percent higher than its UTC opening price of $62.99, as per CoinMarketCap data.
Notably, BSV’s sudden price surge was even more drastic on some exchanges, for instance, on the Singapore-based cryptocurrency exchange Huobi, it went up as much as 214 percent, reaching $195 in the BSV/USDT.
The surge could be attributed in part to the recent announcement, wherein Craig Wright has registered copyright claims on the Bitcoin Whitepaper and original code, promising to revert the copyright to the Bitcoin Association. The release on the matter notes:
Wright intends to assign the copyright registrations to Bitcoin Association to hold for the benefit of the Bitcoin ecosystem. Bitcoin Association is a global industry organization for Bitcoin businesses. It supports BSV and owns the Bitcoin SV client software.
Data from Messari reveals that the total exchange reported 24-hour volume for BSV is $447.6 million whereas its “Real 10” volume from the 10 exchanges identified as the sole exchanges reporting honest volume figures in a report from Bitwise Asset Management reveals today’s volume figure is closer to $31.8 million.
Bitcoin SV aka Bitcoin Satoshi Vision is a fork of the bitcoin cash blockchain and was recently delisted from a number of well-known exchanges including Binance, Kraken and Shapeshift as they asserted that its main proponent Craig Wright claim of being Satoshi Nakamoto the creator of bitcoin, which many assume to be fraudulent.