Why Is Bitcoin SV Shooting Up Today? – Benzinga – Benzinga


Bitcoin SV (CRYPTO: BSV) — a hard fork of Bitcoin Cash (CRYPTO: BCH), which is in itself a hard fork of Bitcoin (CRYPTO: BTC) — was among the top 24-hour gainers early Tuesday morning.

What’s Moving? The coin associated with Craig Wright soared 23.69% to $147.58 over 24 hours. For the week, it is down 0.55%.

BSV gained 18.17% against BTC, while it rose 17.17% against Ethereum (CRYPTO: ETH), the second-largest coin by market capitalization.

On a year-to-date basis, BSV has fallen 9.52%. Over 90 days, it has fallen 8.28%, while over a 30-day period the fall amounts to 11.87%.

At press time, BSV was down 70% from its all-time high of $491.64.

See Also: How To Buy Bitcoin SV (BSV)

Why Is It Moving? BSV got a boost on Monday after a jury in the Kleiman vs. Wright case reached a verdict.

Wright, who claims to have invented Bitcoin, was pitted against the estate of his late business partner David Kleiman and W&K Info Defense Research, LLC — represented by Ira Kleiman. The latter is the estranged brother of David Kleiman.

The defense prevailed on all counts except conversion; $100 million were awarded to W&K.

BSV rose in tandem with other major coins at press time as the global market cap rose 5.33% to $2.38 trillion.

BSV was not among the most mentioned coins on Twitter at press time, as per Cointrendz data.

BTC and ETH topped the list of most mentioned on Twitter. They attracted 10,043 and 7,266 tweets respectively.

Bitcoin SV attracted high interest from retail investors and was among the top trending names on Stocktwits.

Read Next: Craig Wright-Founded Bitcoin Spinoff Suffers 51% Attack: What You Should Know

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About the Author: Kate