Bitcoin SV (BSV), the self-styled ‘Satoshi vision’ of cryptocurrency, surged on Monday after CoinGate announced that its 85,000 registered users and merchants now have the option of trading BSV.
BSV Rockets Higher
The BSV price rallied 18.1% late Monday to reach $73.03, its highest in a month. All of the gains have come in the last 13 hours. BSV trade volumes have nearly doubled in the last 24 hours to reach $225 million, according to CoinMarketCap. he bulk of the activity was concentrated on just two exchanges: Bit-Z and Binance.
At current values, BSV has a total market cap of $1.3 billion, where it placed 11th among active blockchain projects. It trails Binance Coin (BNB) by less than $100 million and Tron (TRX) by roughly $300 million.
BSV also rose against bitcoin, climbing 16.3% to 0.01882352 BTC.
With the exception of XRP, most of the top cryptocurrencies had registered only modest gains late Monday. The total market capitalization of all coins reached $131.1 billion.
CoinGate Launches Support for BSV
On Monday, Lithuanian payment processor CoinGate announced that it had launched support for bitcoin SV, giving merchants the option to accept the cryptocurrency and traders the opportunity to buy and sell it directly through the platform.
For traders: enabled multiple methods for both buying and selling BSV on CoinGate
— CoinGate (@CoinGatecom) February 25, 2019
Through CoinGate, BSV will become an accepted form of payment for merchants choosing to accept the cryptocurrency.