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.
| Cryptocurrency | Gains +/- | Price (Recorded at 10:00 p.m. ET) |
| Bitcoin Cash (CRYPTO: BCH) | +5.04% | $457.42 |
| Bitcoin SV (CRYPTO: BSV) | +1.39% | $31.35 |
| Bitcoin (CRYPTO: BTC) | +0.19% | $105,820 |
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’
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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