Despite the challenges, Bitcoin SV continues to see an increase in investors

Bitcoin it took a while to get a nice community and it wasn’t easy. Over the years, it has suffered several hard forks, which have resulted in coins such as Bitcoin Cash, Bitcoin Gold, etc. One of those hard forks was Bitcoin SV, which for some reason didn’t get where its creators wanted it.

Satoshi Vision Bitcoin

BSV Bitcoin’s hard fork was born out of Bitcoin Cash with the idea of ​​restoring Satoshi’s vision for Bitcoin. Today, it has become just another coin on the token list.

BSV has already suffered a 51% attack on the network in August, which led people to lose even more confidence in the coin as a result of the 2019 Binance decision.

Back that day, Binance announced followed by their intentions to phase out BSV and many stock exchanges. However, some of them still stuck in BSV due to customer requirements.

One of them was a Swiss fintech platform called YouHodler. BSV was not eliminated two years later, until 4 days ago, when they feared a total loss of their client’s funds. In their notification, justified their decision by saying that 51% of the network attacks had already occurred. So it can happen again.

But more than investors and stock exchanges, they are developers who no longer care. He has a net on Github len 13 repositories. And according to Santiment, the maximum number of developers who were active in the network at the same time was only 4.

But…

… Some people are still loyal to the coin and “Satoshi’s vision”, thanks to which the network is still witnessing an increase in investors.

November 7 after a market rally where BSV shot up 15.47%, the network added more than 8 million addresses in a single day.

Holders of bitcoin SV jumped by 8 million addresses | Source: Intotheblock – AMBCrypto

The surprising factor is that the data on the chain show that 0 merchants present in the network after the August attack 51%. As a result, the coin is currently dominated by medium-term holders (20%) and long-term holders (70%).

In conclusion, the anomalies observed in the token show that BSV is no longer as important as it used to be. However, it will continue to be visible thanks to its 390 million loyal supporters.