Bitcoin clone appreciates 40% after listing on Binance

O Bitcoin Satoshi Vision (BSV), one of Bitcoin’s many clones, has increased in value by 40% after being listed on Binance this Friday (20). According to a statement, the broker’s clients can trade cryptocurrency futures with leverage of up to 50 times.

However, part of the appreciation is related to the rise that all cryptocurrencies are experiencing. This Thursday (19), Ripple (XRP) became the first cryptocurrency to make a splash after the SEC dropped its case against executives behind the project.

The rise of XRP also caused Bitcoin, Ethereum, Solana and other cryptocurrencies to post good gains in recent hours. Regardless, the excitement over the possible approval of Bitcoin ETFs is still the biggest story in the market, especially after the SEC also failed to appeal the administrator’s lawsuit loss.

Binance lists the Bitcoin clone on its futures platform

In an announcement published on Friday (20), Binance said its clients will be able to trade Binance Satoshi Vision (BSV) cryptocurrency futures with up to 50 times leverage. Negotiations at the brokerage are now open.

Despite being ignored by much of the market, BSV rose in value by 40% with the announcement, making it the top 100 cryptocurrency with the best gains of the day.

Bitcoin Satoshi Vision (BSV) appreciates 40% after listing on Binance.  Trading view.
Bitcoin Satoshi Vision (BSV) appreciates 40% after listing on Binance. Trading view.

Despite already seeing a correction in its price, Binance Satoshi Vision remains one of the top 40 cryptocurrencies as its market value crossed the $1 billion mark. Trading volume was also affected by the news, rising 89%.

In any case, BSV remains far removed from another Bitcoin clone, the Bitcoin Cash (BCH). At the time of writing, BCH’s market capitalization is $4.8 billion. Still for comparison: the Bitcoin (BTC) it is valued in its entirety at $580 billion.

Peace with the market?

Bitcoin Satoshi Vision (BSV) is a project led by Craig Wright, an Australian who claims to be Satoshi Nakamoto. Last year, in 2022, Wright sued several cryptocurrency brokers, claiming that “BTC is not Bitcoin,” that is, BSV is the real Bitcoin.

“Consumers are fooled every day into thinking that BTC is Bitcoin, as I described in the Bitcoin whitepaper. BTC is not Bitcoin”Wright stated at the time.

With the listing on Binance, it is possible that Wright and BSV are on their way to making peace with companies in the sector.

With several delistings of trading pairs by Binance and only a few listings in recent months, it is possible that the second largest Bitcoin clone has benefited the most from the world’s listing exposure.

Source: Live Coins