It’s no secret that the coin the crypto community loves to hate did wonderfully well in May, the last month. Before that, Bitcoin SV (BSV) experienced some endless controversy, including being delisted from exchanges like Binance.
Well, folks, after an excellent run of BSV network now all seems not well.
Is the Network a Total Ghost Town?
Is it the right time to question BSV and some of its statistics? In case you’re taking a second thought on the questions to start with (if any), crypto experts have had theirs going hard on the network already.
Kevin Rooke, a cryptoanalyst, has had his say. A couple of days ago, on June 23rd, 86% of all the Bitcoin SV volume was as a result of 100 transactions that happened that day.
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
It’s merely a month after when BSV was among the best performers beating even the surge of the giant crypto Bitcoin.
And now, is BSV network an entire ghost town?
Apparently, it looks like the ideal time to even question the overall market value of the network that is $4.5 billion. Interestingly, that value has surged by 300% just in a span of the past 45 days.
Wait a minute, that’s totally insane, right? But what might have happened to start with?
Perhaps, some big holders might have moved without any exaggeration about 40% of the total supply daily, which jacked the mean value, making it look like its being used.
Or maybe are we getting something wrong regarding the numbers over the same issue? How many users are using the network? Several answers can be asked with only a few being answered as things stand right now.
However, given the fact that BSV top the best performers when the market started surging in May, it may be too early to pass judgments. Only the time can tell whether Bitcoin SV really turns out to be a total ghost town or a real deal.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.