Bitcoin SV (BSV) Enters the Top 10 Crypto Market on CoinMarketCap at #7 Coin
It seems that there is a new virtual currency in the top 10 that CoinMarketCap displays. Bitcoin SV (BSV) is now the 8th largest virtual currency with a market capitalization of $1.81 billion dollars. Surprisingly, it has a higher market cap than Litecoin (LTC) which was moved to the 9th position.
This is a surprising event since there are three different Bitcoin versions in the top 10: Bitcoin (BTC), Bitcoin Cash (BCH) and Bitcoin SV (BSV). According to the Reddit user Rewoomantle, this situation is ‘ridiculous.’ Rewoomantle wrote a post on Reddit in which he says that he is not able to understand how the market is working.
Bitcoin SV was able to surpass different high-quality projects in the market such as Monero (XMR). Rewoomantle explains that Monero is an important project in the market and that is funded by the community. Moreover, Monero is also considered one of the best privacy coins in the crypto market.
About it, he wrote:
“Monero is a top quality project without any premine, funded by the community, by most people’s admission the best privacy coin out there and actually can scale after Bulletproofs with a fraction of bitcoin’s transaction fee.”.
He then mentions that it got ‘kicked out’ from the top 10 by a cryptocurrency with centralized mining and no adoption at all. The threat started by this Reddit user received several comments of individuals criticizing the current state of the market and giving their opinions about what will happen in the future with Bitcoin SV.
Bitcoin SV was born as a fork of the Bitcoin Cash network. Back on November 15, Bitcoin Cash experienced a network upgrade in which Bitcoin ABC and Bitcoin SV were fighting to be the only BCH network. However, Bitcoin SV couldn’t keep with the hash war against Bitcoin ABC. This is why Craig Wright, Bitcoin SV supporter, announced that Bitcoin ABC could implement replay protection and allow both networks to compete in the market.
At the moment, each BSV coin can be purchased for $103 dollars. In the last 24 hours, this coin has grown more than 21%. Most of the cryptocurrencies are operating negatively in the last 24 hours.