Even though Bitcoin remained constrained due to geopolitical concerns, cheaper alternatives to the apex cryptocurrency enticed investors Sunday night.
What happened: Bitcoin Cash rallied over 5% to become the market’s third-biggest gainer over the last 24 hours. Trading volume for the cryptocurrency surged 71% to $510 million, indicating substantial interest from traders and increased liquidity.
Similarly, Bitcoin SV rose 1.39%, with volume increasing 5.34% to $47 million in the last 24 hours.
These gains contrasted with Bitcoin’s stagnation. The world’s leading cryptocurrency was little changed in the last 24 hours as investors reined in their risk appetite owing to the Iran-Israel conflict.
See Also: Forget Dollars: Willy Woo Says Bitcoin Will Be Priced Against Global GDP — ‘Gold Used To Be That Money, BTC Is The Challenger’
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Why It Matters: It’s worth mentioning that BSV arose from a hard fork of the Bitcoin Cash blockchain in 2018, which had split from the original Bitcoin network a year ago due to community disagreements over Bitcoin scaling.
Bitcoin traded at nearly $106,000 as of this writing. The high price could make holding one full Bitcoin a little challenging, especially for retail investors, although they can always obtain exposure by making fractional purchases.
In comparison, BCH and BSV have much smaller market capitalizations — $9.1 billion and $623 million, respectively — and lower per-unit prices, positioning them as potentially cheaper alternatives to the $2 trillion asset.
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BCHBanco De Chile$30.42-2.28%Stock Score Locked: Want to See it?
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Reveal Full ScoreEdge RankingsMomentum89.10Growth83.55Quality99.62ValueNot AvailablePrice TrendShortMediumLongOverview$BCHBitcoin Cash$453.24-1.56%$BSVBitcoin SVNot Available-%$BTCBitcoin$105811.430.19%Market News and Data brought to you by Benzinga APIs
