cryptonews.net
Bitcoin SV (BSV), a cryptocurrency fork of Bitcoin, has seen a remarkable 65% surge in the past 24 hours, with Upbit, South Korea’s largest exchange, the center of trading activity. A significant 65% of trading volume is concentrated on Upbit, highlighting the significant influence Korean traders have on BSV’s growth. At the time of writing, Bitcoin SV is trading at $85.26, up nearly 74% in the last seven days and 55% in 24 hours, according to data from Coingecko. Previously, the largest American exchange Coinbase announced the end of support for BSV from January 9, 2024.
Bitcoin, the leading cryptocurrency, crossed the $43,000 mark again early Thursday morning, pushing its overall market capitalization to $1.71 trillion. Market attention is currently focused on the imminent potential approval of a spot Bitcoin ETF, with analysts suggesting such approval could materialize in the first week of January 2024. Popular altcoins including Ethereum (ETH), Ripple (XRP), Litecoin (LTC) and Dogecoin (DOGE) saw positive market movements.
As previously reported, Upbit’s dominance in the South Korean cryptocurrency exchange market has strengthened, reaching an impressive 80% market share. Other major exchanges such as Bithumb, Coinone and Korbit have also made their presence known with varying market shares. Bithumb, the second largest player, holds a significant share of 15% to 20%, while Coinone and Korbit maintain more modest positions of 3% to 5% and less than 1%, respectively.
Image: The Crypto Times