Bitcoin SV Price Surges And Its Activity Expands With A Weather App Despite a ‘Ghost Town’ Network

  • Bitcoin SV continues to grow with increased activity on its network
  • Apparently, most of its activity came from a weather application

Bitcoin Satoshi Vision (BSV) continues to expand in the market in terms of price and activity. The digital currency has surged following Bitcoin’s trend and the activity in the network is also expanding. However, it seems that 98% of the network movements come from a weather application.

Is Bitcoin SV Growing?

According to some reports, most of the volume registered by Bitcoin SV came from just 100 transactions, which shows that the network is just processing the transactions of some few applications rather than an entire decentralized community.

Although the network seems not to have a real and genuine volume despite these transactions, Bitcoin SV has a market capitalization of $4.17 billion, 300% more than just 45 days ago. This represents a massive price increase for such a cryptocurrency project in the market. Each BSV can also be purchased for $233 according to CoinMarketCap.

Earlier this year, Bitcoin SV was delisted from one of the largest cryptocurrency exchanges in the market, Binance. The decision that the exchange took came after Craig Wright, the founder of the virtual currency, decided to sue different individuals in the crypto space, including Peter McCormack and the Twitter user Hodlonaut.

Bitcoin SV investors seem to be confident in Wright and in the developments that the project is working on. In addition to it, Wright talked about the MetaNet and how they are working on it.

About it, he commented:

“We will have documents and blogs and training materials starting to come out from nChain, so that people can start building and developing the incentivized version to replace the internet. The new way of doing things.”

He went on saying that they do not want to create a system such as the one that Google created because they want people to get money for their value. Google just sells advertising without caring about the value of what they sell.

The Twitter user @painted_frog, explained that the application accounted for more than 1.23 million of BSV’s actions over the past month after being launched in April. The app works by recording local weather and climate data with the BSV blockchain.

Other applications include memo with 9597 actions, Open Directory with 2948 and with 1040 actions.

Bitcoin SV is a har fork of Bitcoin Cash (BCH) that split from its network back in November 2018. CoinGeek’s Calvin Ayre decided to support Bitcoin SV while Roger Ver joined the Bitcoin Cash side.

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