24/7 Cryptocurrency News

Why Is Bitcoin SV (BSV) Price Soaring Today?

The Bitcoin SV price has recovered by over 270% from its all-time low of $23.30 recorded in June this year.
Published by
Why Is Bitcoin SV (BSV) Price Soaring Today?

Bitcoin SV (BSV), a hard fork of the Bitcoin Cash (BCH) blockchain, has been extending unprecedented gains. The crypto witnessed a spike in price by over 65% at the time of writing. The surge could be a result of the overall positive market sentiment, however, there is still more to it.

Advertisement

South Korean Traders Fuel Bitcoin SV Demand

The Bitcoin SV price has been propelled by its unwavering demand in the crypto space. In the last 24 hours, the BSV trade volume skyrocketed by a whopping 615.98%, clocking trades worth over $612.40 million. However, the most notable development was that the demand was mostly fuelled by South Korean traders.

According to CoinGecko statistics, Upbit, a leading crypto exchange in South Korea, accounted for $513.81 million worth of BSV trades in the past 24 hours. It holds a massive share of 67.25% in the trade volume. This implies that BSV has caught the interest of South Korean investors.

Recently, South Korea decided to devise a crypto regulation framework to curb illegal activities in the domain. In addition, in a December 27 update, it was revealed that the country made it compulsory for public officials to report their crypto assets, making a significant move towards regulating the domain. These developments could have attracted investors’ attention since a regulated domain provides a sense of security.

Also Read: South Korea Implements Crypto Asset Reporting for Public Officials

Advertisement

Bitcoin SV Price Today

At press time, the BSV price had spiked by 65.97% as the crypto traded at $89.32 on Thursday, December 28, 2023. Furthermore, the BSV market cap increased by 65.73% to $1.7 billion. The digital asset attained a new 52-week peak after attaining a high of $89.50 during today’s trading session.

Moreover, the recent surge is noteworthy since the crypto has rebounded significantly from its all-time low of $23.30 recorded on June 10, 2013. Since then, the BSV price has surged by over 271%. In addition, the crypto locked in impressive 1-month returns, soaring over 120%.

However, the current price is still quite lower than its all-time high achieved in 2021. The digital currency’s ATH was recorded at $491.64 in April 2021. This suggests that the crypto has lost over 82% in value after hitting the peak.

Also Read: US, Japan, South Korea Forge New Front Against Crypto Money Laundering

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Altcoin News

ASTER Token Rockets Over 10% in an Hour as Binance Announces Spot Listing

Crypto exchange Binance on Monday said it will list next-generation decentralized perpetual exchange Aster's crypto…

October 6, 2025
  • Altcoin News

Whale Dumps Massive $55 Million in XRP to Ripple as Coin Falls Below $3?

A whale alert regarding a massive $55 million XRP transfer to a Ripple wallet sparked…

October 6, 2025
  • 24/7 Cryptocurrency News

Aster Token Crashes 10% On DEX Integrity Issues Ahead of Airdrop, What’s Happening?

BNB-based decentralized exchange (DEX) Aster has come into the limelight recently, this time facing integrity…

October 6, 2025
  • Bitcoin News

Spot Bitcoin ETFs Record 2nd Best Weekly Inflows Ever, Bloomberg Analysts Bullish

Spot Bitcoin ETFs saw nearly $3.3 billion in net inflows last week, the 2nd largest…

October 6, 2025
  • 24/7 Cryptocurrency News

Michael Saylor Says “No New Orange Dots” Pausing Bitcoin Buys as Holdings Hit Record $79B

Michael Saylor hinted that Strategy would not be making its routine Bitcoin purchase this week.…

October 5, 2025
  • 24/7 Cryptocurrency News

Experts Turn Bullish on Pudgy Penguins as PENGU Leads Meme Coin Buys on Solana

Crypto experts have begun to make bullish projections for Pudgy Penguins’ native token, PENGU. This…

October 5, 2025