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.
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
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