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- Between September 28-30, BSV witnessed a 761 per cent growth on their network
- he number in the two days has reached to 947,400 addresses indicating a massive boost by 761%
The volatility in the cryptocurrency market is not a new trend, neither does any sudden change leaves a look of surprise for anyone. Despite that, Bitcoin SV (BSV) managed to pull that off. Between September 28-30, BSV witnessed a 761 per cent growth on their network. This surprising skyrocketing of the stocks came just before this week’s CoinGeek live conference in New York.
As per the market reports, on September 28, when there were 110,000 active BSV addresses. The number in the two days has reached to 947,400 addresses indicating a massive boost of 761%. Transactions over BSV has also increased from 715,000 to 1.7 million depicting a 145% growth in 48 hours. No matter how suspicious, there is a thin possibility that the growth can be organic. A similar case occurred between June 24 and July 10 when the active transactions spiker to 5.5 million from little over 1 million.
Correlation with the CoinGeek Conference
The three-day-long blockchain conference, CoinGeek is expected to host several Bitcoin-based companies. And estimating from the tremendous development and growth in the Bitcoin SV industry, companies will be using the conference as an opportunity to announce and unveil their product. Few of the confirmed names which will be unveiling their BSV based products in the conferences include Omniscape, HandCash & Centi, Zumo, BSaV, TonicPow and so on. And the sudden increase in the BSV will be turning the conference in these companies favour.
Jimmy Nguyen, President, Bitcoin Association in the CoinGeek’s conference said BSV had incentives that discourage bad behaviour. Currently, BSV is processing 2800 transactions per second which according to Ngyuen will increase up to 50,000 in the future.
Reaction Over the Internet
What many are claiming as a suspicious and sudden growth, few took the moving on the internet to a step ahead. One of those is Arthur van Pelt, who is an active antagonist of BSV. He took the swing on the SirToshi’s tweet showing BSV surpassing Ethereum in wallet addresses, despite a massive DeFi boom.
Arthur tweeted sarcastically that the growth looks organic and doesn’t have anything to do with the upcoming CoinGeek conference. On the other hand, a bitcoin influencer with username Holdlonaut couldn’t contain his disappointment over Arthur’s tweet and retweeted with the emoji expressing embarrassment.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
