Bitcoin Lookalikes Are Soaring This Week: What's Going On?

Bitcoin BTC/USD doppelgangers are soaring this week, with Bitcoin Cash BCH/USD, Bitcoin SV BSV/USD and Bitcoin Gold (BCG) all witnessing spikes.

What’s Moving? The three Bitcoin lookalike coins rose in a week when the apex cryptocurrency itself rose 8.65%. 

See Also: How To Buy Bitcoin (BTC)

Why Are They Moving? Bitcoin Gold was seen moving higher this week as it trended on the price-tracking website CoinMarketCap. A sharp spike in BTG prices was also observed on Binance. Spikes in lookalikes of major cryptocurrencies have been previously observed when investors look for cheaper plays.

On the Bitcoin Cash side, Goblins Cash, a DeFi 2.0 protocol on SmartBCH, tweeted that new bond types are close to being finished. The protocol also said that APRs will stay high until the bonds are launched.

Meanwhile, on Monday, content distribution and non fungible token (NFT) streaming platform Rad said it had secured significant funding in a round led by Ayre Ventures and Intersect VC — both investors in Dapper Labs and Triller. 

The funding would be used to build a cross-blockchain NFT platform on the Bitcoin SV blockchain, according to Rad.

“Rad's integration of the Bitcoin SV (BSV) blockchain will include support for BSV-based NFTs with on-chain storage of large NFT files including full-length movies, video holograms and AR/VR content, according to a statement issued by the platform.

“Rad will also leverage the BSV blockchain's low-cost and high-scaling capacity for managing and tracking NFTs across multiple chains.”

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