Wright is Right? Bitcoin SV Surpasses Bitcoin’s Daily Transaction Volume
The daily transaction volume of Bitcoin SV (BSV) has surpassed the same parameter for Bitcoin on November 12 and has maintained its dominance.
According to Bitinfocharts.com, the Bitcoin SV network handled 396,000 transactions on December 1 while the original Bitcoin blockchain only saw 274,000 transactions.
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Amount of Daily Transactions of #BitcoinSV surpasses #BCH & #BTC
Miners PROFIT with #BSV by earning Fees !!!https://t.co/KGlIbdroGD pic.twitter.com/hQXMnRUPhu
— BSVBoom 🔶🟠 (@BSVBoom) December 2, 2019
Promoted by self-proclaimed Satoshi Nakamoto, Craig Wright, Bitcoin SV hit the market last year after a chain split from the Bitcoin Cash network. Wright’s version increased block sizes from 32MB to 128MB, amongst a number of other significant changes.
The increased block size vastly increases the Bitcoin SV network’s potential to quickly process transactions, which is supposed to make the Bitcoin SV network function like the Bitcoin network was originally supposed to operate–as a network for everyday transactions rather than an investment opportunity.
Though over the last one year, Bitcoin BSV transaction volume surpassed Bitcoin’s for a number of times, none were steady enough to maintain it for such a long time, mostly being spikes.
According to Coinmarketcap.com, Wright-endorsed coin is being traded at $100 apiece, as of press time, and is trading flat in the spot market for the last week. The coin touched its peak value at $237 in June after a month-long rally and is currently holding a market cap of over $1.8 billion.
Meanwhile, due to the coin’s association with Craig Wright, one of the controversial figures in the crypto industry, multiple exchanges including Binance delisted the coin earlier this year.
In an interview with Finance Magnates, Jimmy Nguyen, the former CEO of nHash, discussed the then 10-month old ecosystem of Bitcoin SV and its ties with Wright. He also clarified that the digital currency is much bigger than the tainted reputation of Wright.
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