Bitcoin SV Soars To All-Time-Highs, But Is This Down To Manipulation By Whales?

News has emerged that the overwhelming majority of Bitcoin SV volume comes from just 100 transactions. In comparison, the equivalent figure for Bitcoin is less than 10%. As such, this raises doubts over the legitimacy of the BSV network and its standing as a top 10 coin.

86.4% of all Bitcoin SV volume yesterday came from 100 transactions. The BSV network is a total ghost town.

Despite that, network value is now $4.5 billion, up 300% in the last 45 days.

Totally insane. pic.twitter.com/5xS2qvNsJc

— Kevin Rooke (@kerooke) June 23, 2019

Bitcoin SV Fights Back From Binance Delisting

BSV has had a roller coaster ride this year. After being delisted from Binance, many assumed it would be game over for the project. But, in the face of industry-wide condemnation against the founder, Craig Wright, and his claim of being Satoshi Nakamoto, it has done well to recover.

Indeed, the past month has seen a steady upward trajectory, which coincided with the fake news of a Binance relisting. Nonetheless, when Binance CEO, ChangPeng Zhao publically refuted the story, the bitcoin SV market did not dump as expected, and it has continued on an upward trend ever since. The BSV price peaked yesterday at $243, an all-time high for the much-belied project.

It would seem as though BSV investors are confident in Wright, and the developments that are taking place at the project. Talking to BSV mouthpiece, Coingeek, at the recent Coingeek Toronto Conference, Wright gave an update on MetaNet, an incentivized internet which Wright believes will be a Google killer. He said:

“And we will have documents and blogs and training materials starting to come out from nChain, so that people can start building and developing the incentivized version to replace the internet. The new way of doing things. Not a system based on popularity, like Google, where it’s really about selling advertising, so you don’t care about the value of what you’re selling. You care about how many hits. We want people to get value for their money. So, they don’t go to the site because lots of people do; they go there because it has the best information.”

The post Bitcoin SV Soars To All-Time-Highs, But Is This Down To Manipulation By Whales? appeared first on NewsBTC.

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