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Bitcoin SV (BSV), a Bitcoin fork token, has experienced an astonishing price surge in the last 24 hours.
BSV increased by more than 30% as crypto exchange Binance listed BSV perpetual futures at 50 times leverage, which may have piqued the interest of traders.
At the time of writing, BSV was up 28.09% in the last 24 hours to $54.99. This surge has propelled Bitcoin SV to find itself among the top-performing assets on the crypto market. Bitcoin SV is the biggest daily gainer among the top 100 cryptocurrencies by market capitalization.
BSV has enjoyed a bullish ride since the week's start, initiating a rise on Oct. 15. The Bitcoin hard fork saw a major spike on Oct. 16, touching highs of $41.50. Profit-taking ensued, but bulls were not yet done.
Bitcoin SV initiated another rally on Oct. 18, and it is on track to mark its third consecutive day of gains. Today's jump was the largest yet, with BSV printing a massive green candlestick that led to highs of $57.71 during the trading session.
Currently, BSV is up 65.56% so far weekly. Santiment, an on-chain analytics firm, points out that as Bitcoin's dominance grows, BSV has been one of the standout assets in the past 24 hours.
Tomiwabold OlajideIn an announcement, Binance Futures stated that the listing of the BSV perpetual contract is scheduled to occur on October 20 at 12:30 (UTC), with up to 50x leverage. This remains a positive trigger for the Bitcoin SV rally.
Bitcoin SV (BSV) arose in 2018 as a result of a hard fork of the Bitcoin Cash (BCH) network, which had diverged from the BTC blockchain a year earlier.
BSV is currently the 40th largest cryptocurrency, with a market capitalization of $1.06 billion. The crypto asset's trading volume has soared 74% in the last 24 hours, with over $356 million worth traded.
Alex Dovbnya
Vladislav Sopov
U.Today Editorial Team
Dan Burgin