BSV surpasses $52 as open interest, trading volume skyrocket
29.10.2024
Bitcoin SV is seeing increased demand from short-term investors and traders as its price surpasses the $50 mark amid high volatility.
Bitcoin SV (BSV) is up 17% in the past 24 hours and is trading at $52.95 at the time of writing. The asset’s market cap is currently sitting at $1.05 billion, making it the 67th-largest cryptocurrency.
Data shows that BSV’s daily trading volume skyrocketed by 215%, reaching $93 million.
BSV has been wandering in extreme volatility since late June and could hardly surpass the $50 mark after it plunged from a two-year high of $128 in March.
At this point, BSV is down by 89% from its all-time high of $491 on April 16, 2021.
Notably, BSV’s price surge comes along with the market-wide bullish momentum. The global crypto market capitalization surpassed the $2.5 trillion mark, according to data from CoinGecko. Bitcoin (BTC) reached the $71,000 mark for the first time since June.
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Open interest rises, thanks to shorts
BSV’s price surge comes along with rallying open interest.