Currently, Bitcoin SV is recording the daily transactions of about 4k which is less than half of what Bitcoin Cash is registering and nowhere near Bitcoin. Weiss Ratings took a dig at Bitcoin SV, quipping, “The future of Bitcoin right there folks…”
Bitcoin SV doing an “Astonishing” 4k Transactions per Day
The 10th largest cryptocurrency by market cap of $1.13 billion according to the data provided by Coinmarketcap is currently handling about 4k transactions in a day. This is about half of what Bitcoin Cash (BCH) processes in a day. Recently, Weiss Ratings took to Twitter to take a dig at Bitcoin SV.
“We finally have transaction data for the infamous Bitcoin SV project. It’s doing an “astonishing” 4k transactions per day, about half what BCH does. The future of Bitcoin right there folks…”
According to the data provided by Bitinfocharts, the highest number of transactions registered on the Bitcoin SV network has been on November 18 at over 4 million, just days after it was forked from Bitcoin Cash.
Bitcoin SV transactions, Source: Bitinfocharts
Since early January, this year, the transactions on Bitcoin SV has been between the range of 1.7k and 8.1k. In the last 24-hours, Bitcoin SV recorded 3,669 transactions. In December, Craig Wright declared a two-year target for Bitcoin SV that involved processing terabyte-sized blocks. However, it is to be seen if it would really require that much processing.
Whereas, in the past 24-hours Bitcoin Cash recorded 9,321 transactions which are more than double to Bitcoin Cash. Meanwhile, Bitcoin has been registering 319,108 number of transactions in a day.
At the time of writing, Bitcoin SV has been trading at $67.24 with 24-hours greens of about 4 percent while managing the daily trading volume of $97 million.
Recently, Coingeek reported that Coinfy, a Copenhagen-based payment gateway has added support for Bitcoin SV to its limited number of cryptocurrencies. The reason for this support was shared by the company’s COO Hans Henrik Hoffmeyer,
“BSV checked out, both in terms of volume and in terms of market depth. BSV has a transparent protocol or blockchain and that’s very important for us, given that we operate in a very compliant way.”
The company apparently works with thousands of merchants and as a payment facilitator working on making cryptos to be used in day to day life. “It’s not good enough [for people] just to buy and hold, we want them to use it as part of their everyday lives,” said Hans.
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A blockchain enthusiast, my expertise extends to marketing and advertising through which I was able to help a few notable startups in generating initial traction. Follow me on Twitter at @abhinavagrwl94 and reach out to me at abhinav[at]coingape.com