Bitcoin SV (BSV) Passes Bitcoin Cash (BCH) in Market Cap

The fork flippening comes as the rest of the market is in free fall.

The recent hard fork of Bitcoin Cash (BCH) has left the coin’s community fragmented between Bitcoin Cash ABC and Bitcoin Cash SV, while billions in market and brand value have fallen to the wayside.

In the immediate aftermath of the fork, Bitcoin Cash ABC looked like it was taking the lead as top exchanges assigned it the BCH ticker while Bitcoin Cash SV was forced to rebrand to Bitcoin SV (BSV). Many exchanges were even hesitant to list BSV out of fear that it would put investors at risk.

Despite this rocky start, Bitcoin SV just officially passed Bitcoin Cash in market capitalization ($1.88 billion vs $1.78 billion) after gaining over 21% on Thursday.

While it’s currently unclear what fundamental factors are driving the rally, it’s clear that investors are jumping on the BSV train as its volume over the past 24 hours is north of $168 million — essentially double BCH’s volume over the same period. Interestingly, Bitcoin SV is the lone gainer in a sea of red today as Bitcoin is now down more than 10% and most major altcoins are in free-fall mode.