Bitcoin SV, the network created back in 2018 during the infamous hard-fork of the Bitcoin Cash network has surpassed the daily trading volume of Bitcoin and has maintained its lead since November 12th.
BCH network underwent a hard fork in November last year, but there were two chains claiming their stake as the forked chain rather than just one. One chain was called Bitcoin Satoshi Vision (Bitcoin SV) headed by controversial and self-proclaimed Satoshi Mr. Craig Wright. The other chain was Bitcoin ABC headed by another controversial personality Roger Ver. The BCH hard fork turned out to be quite ugly as both the parties indulged in name-calling, filing lawsuits and left no opportunity to trash one another.
Both parties claimed to have a better on-chain solution for faster transactions at a minimal cost. However, a couple of months after the hard-fork BSV network started to lose the race, be it in terms of market value, the number of blocks mined or Hash power. Despite losing the race, Wright maintained that his network is superior and eventually it would process more transactions than the Bitcoin network.
BSV Topping BTC for Daily Transaction Volume
As per the latest data from Bitinfocharts.com BSV network has managed to process 396,000 transactions on December 1st while BTC only managed to process 274,000 transactions. Although BSV has surpassed BTC's daily transaction volume on a number of occasions after the fork, however, this is the first time when the altcoin has maintained dominance for so long.
At press time BSV was trading at $98.65 with a total market cap of $1.78 billion as per CoinMarketCap. Looking at the daily transaction volume BSV for sure has surpassed BTC but it is more important to know that most of the BSV transaction volume comes from a single app BSV Weather App.
The feat for BSV is still commendable given there are not many takers of the digital token given the controversial nature of Wright who has been involved in several arguments with well-known crypto personalities. His bad-mouthing also cost him delisting of BSV token from major exchanges earlier this year.