While Bitcoin (BTC) has experienced a small increase of 1.4% in the last 24 hours, altcoins are performing better.
At this point, the largest altcoin, Ethereum (ETH), has recorded a rise of more than 6% in the last 24 hours, while the rise of some altcoins has reached double digits.
One of these altcoins was Bitcoin SV (BSV), which is a fork of Bitcoin.
According to CoinMarketCap data, it has increased by up to 65% in the last 24 hours. Reaching up to $97, BSV is traded at $92 at the time of writing and is at the top among the most profitable altcoins.
At this point, BSV transaction volume increased by a massive 490% in the last 24 hours, reaching a value of over 731 million dollars.
The most striking part of this increase was that BSV demand was mostly supported by South Korean traders. According to the data, 65% of BSV transaction volume was realized on Upbit, South Korea's largest stock exchange.
This was interpreted as South Korean investors being the main driving force in the BSV increase.
As you may remember, Coinbase, the largest cryptocurrency exchange in the USA, previously announced that it would stop supporting BSV on January 9, 2024.
*This is not investment advice.
