Bitcoin SV surges into the top ten with gains of almost 47%

Bitcoin SV has rocketed into the top ten with gains of just under 47% at the time of writing. $BSV’s current surge comes just a few days after the project soared 200% in the space of a few hours.

Bitcoin SV rocketed from about $119 to a high of around $190. While it’s declined a little, the $BSV is still riding gains of 46.75%, trading $175.41 at the time of writing, with a surge of around 16% seen in less than an hour on Bittrex. $BSV’s market cap is currently sitting at $3.1 billion, putting it firmly in ninth place.

The project has set up a Scaling Test Network (STN), AMBCrypto reports, which is specifically designed to test on-chain scaling for large blocks. The STN has been testing a block size of more than 1GB, which might be implemented on the mainnet – a possible reason for the project’s price hike.

Additionally, a press release published on May 27 has announced the launch of a protocol enabling businesses to create tokens for real-world assets on the Bitcoin SV blockchain.

Aside from $BSV, other notable top 10 earners include XRP and Bitcoin Cash, both adding over 6% to $0.45 and $461.22 respectively. Bitcoin is up 0.68% to $8,747.88.

Further down the list, IOTA is the next biggest earner after $BSV, climbing almost 21% to $0.51. Theta comes in next with gains of 12.11% while Komodo is up almost 11%.

Total market cap is sitting at $276.7 billion while Bitcoin’s dominance is down slightly to 56%.

$BSV/USD chart provided by Tradingview