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Bitcoin SV pushes Monero into the top 10 coins

Bitcoin SV pushes Monero into the top 10 coins 101
Source: Bitcoin SV website

Less than two weeks, Bitcoin SV (BSV), the Bitcoin Cash (BCH) fork, has pushed Monero, the most famous currency for privacy, among the top 10 largest cryptocurrencies by market capitalization, and is now moving between first 7- 10 coins.

BSV had resisted a permanent division earlier, until CoinGeek, previously the largest mining pool of BCH and main supporter of BSV, formally called for an end to the hash war.

After the end of the war, Bitcoin ABC kept the Bitcoin Cash ticker in most places, while BSV, supported by the infamous Craig Wright, dubbed Faketoshi, is considered a separate cryptocurrency. The first is still the fourth largest cryptocurrency by market capitalization, while the latter has conquered the 7th place above the caliber of Litecoin, Cardano and Monero, before going down.

The first 10 coins: (UTC 10:53 AM)

Bitcoin SV pushes Monero among the top 10 coins 102

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The launch of the coin imitates that of Bitcoin Cash itself more than a year ago: just a few days after its Bitcoin fork, BCH entered the top 5 coins in August 2017 and is still there.

The difference in the market capitalization of BCH and BSV – about USD 1.3 billion – is slightly offset by the fact that BSV is still on an upward slope compared to the rest of the market, having more than doubled in recent days.

In addition, the 24-hour volume of ABC Bitcoins is about $ 280 million, while Bitcoin SV boasts $ 490 million. Although Bitcoin ABC won the loyalty of major cryptographic exchanges, BSV negotiated on Binance against USDT and BTC with a volume of almost 230 million dollars, and Upbit against the KRW, volume of 181 million USD previously today. In comparison, Bitcoin ABC is also traded on such exchanges, but Upbit has seen the volume at 108 million dollars, while on Binance it is 77 million dollars.

Another important exchange, Coinbase, recently announced that it "intends to allow customers to withdraw BSV at a future date, even if we do not currently intend to support trading, buying or selling".

Bitcoin SV price table:

Bitcoin SV pushes Monero in the top 10 coins 103
Source: coinmarketcap.com

Development plans

"We plan to open the development of systems that will have billions of people using Bitcoin [SV] in the next few years, without even knowing they are using Bitcoin, "he said in a recent post from Medium.The BSV website provides a list of services that complement the BSV support, however, also notes that" some on this list support multiple BCH implementations, but many in the following choose to support only SV ".

Also, in a press release, CoinGeek founder Calvin Ayre said, "Although ABC can keep the BCH ticker symbol damaged, BSV is winning the BCH's native application ecosystem by mass. 39; now to compete with BCH (and BTC) on the market, rather than in further chain battles. "

Ayre added that "Bitcoin SV is the original Bitcoin, not the original Bitcoin Cash." He later referred to Bitcoin as "Segwit BTC" in the article, accusing the BTC and BCH supporters of having "tinkered" him. [Bitcoin] At death, "as their cryptocurrencies" have abandoned the basic principles of Bitcoin abandoning the consent of Nakamoto and trust in the "test of work" of the miners.

As for those who really won, according to the Coin Dance data aggregator, BCH ABC has accumulated more working evidence (PoW) than BSV since the spin-off date. Other signals suggesting that BCH ABC came out later include platforms such as CoinMarketCap that combines the BCH and BCHABC lists and the cryptocurrency hardware portfolio ledger, which resumed its BCH services only in the form of BCH ABC.

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