Bitcoin SV Price Up by 7.45% – Time to Buy BSV Coin?
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- The crypto market is up by 2% and has a live market cap of $1.6 trillion, with investors motivated to buy BSV
- Bitcoin SV makes upgrades to improve transaction processes
- BSV to build blockchain-as-a-service for Domineum
Bitcoin SV is making corrections as the asset looks to be moving in an upward trend, motivating investors to buy BSV. The BSV asset has hit impressive highs and has been on a downward trend lately. However, the price movement in the last 24 hours shows that the asset seeks to make amends as it trades at $95.2 and is up 7.45%.
The entire crypto market has been trading below par for the last couple of days and the market volume is down 34%. However, BSV seems to be trading in opposite directions to achieve better resistance and support prices.
Bitcoin SV exists to fulfil the original vision of the Bitcoin protocol as it aims to achieve scalability, stability and deliver a distributed data network that can support corporate business-level blockchain applications.
The network is especially unique due to its capacity for unbounded on-chain scaling while still entirely fixated on the original Bitcoin version.
The BSV network applications are only part of why investors want to buy BSV. Fundamental factors are also at play to push this crypto asset towards the limelight.
Bitcoin SV Node version 1.0.10 and mAPI v1.4.0 released
The BSV team has released two upgrades relevant to the scalability of the BSV network; the Bitcoin SV node v1.0.10 and the mAPI v1.4.0. The Bitcoin SV V1.0.10 is an effort to improve the functionality and performance of the network with a list of specific modifications.
The upgrade provides parallel transaction validation (PTV) scheduler improvements to enable the network to process long, complex transaction graphs where transactions arrive haphazardly
The upgrade also provides a modification to the processing of user-agent strings. The change description facet of the upgrade provides special values of field within the existing P2P header as flags that can be recognised by another peer that supports such a change. It serves as an indicator for a message with a large payload.
Domineum with nChain and BSV Blockchain
Investors are motivated to buy BSV as Domineum, a software development company, has partnered with nChain to identify more commercial opportunities to move Domineum’s current data solutions to become Blockchain-as-a-Service (BaaS) products built on the BSV blockchain.
Since BSV is an enterprise-level blockchain, the network protocol will scale unbounded to support the high volume of transactions expected to be up to 50,00 transactions per second (TPS) at a minimal cost.
Domineum expects to expand its current offerings due to the announced partnership and identify opportunities to develop new and innovative BaaS for other government services.
The BSV blockchain will serve as a peer-to-peer electronic cash system and a data ledger for government and enterprise applications.
Bitcoin SV Technical Analysis
The BSV asset shows appreciation as the asset is making every effort to reach the most recent 61.8% Fibonacci retracement level of $276. The asset has made a good impression on investors looking to buy BSV as the coin reached the 23.6% Fibonacci retracement value of $383.
The Bitcoin scalability option is trading below the Simple Moving Average (SMA) support price of $141, and the Moving Average Exponential (EMA) value of $119 shows that the asset has been bearish.
However, the asset seems to be making price corrections as it makes a U-turn to trade above its immediate indicators, motivating investors to buy BSV.
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