Bitcoin Cash Surges Over 13%, Bitcoin SV Gains As Investors Eye Cheaper BTC Plays

Lesser-known Bitcoin BTC/USD offshoots rose sharply Wednesday, outgaining the apex cryptocurrency.

What happened: Bitcoin Cash rallied over 13%, becoming the market’s second-largest gainer in the last 24 hours. 

The coin’s trading volume more than doubled to $1.07 billion in 24 hours, as strong buying pressure sent it beyond $400 for the first time in over a month.

Similarly, Bitcoin SV lifted 6.88% to a market capitalization of $738 million, reaching its highest level in a week.

Cryptocurrency	Gains +/-	Price (Recorded at 9:50 p.m. ET)
Bitcoin Cash BCH/USD	+13.59%	$395.40
Bitcoin SV BSV/USD	+6.88%	$37.17

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The returns from these cryptocurrencies outshone Bitcoin, which was up 4.75% in the last 24 hours.

Bitcoin Cash is a result of a hard fork of the original Bitcoin blockchain in 2017 due to differences in the community over proposed upgrades. A year later, Bitcoin Cash underwent its own fork, leading to the creation of Bitcoin SV.

The surge in the value of Bitcoin spinoffs indicated demand, seemingly from retail traders, for affordable alternatives to Bitcoin.

As of this writing, the apex cryptocurrency was priced at $91,608.96, making owning one full unit a pricey investment for individuals.

The sentiment was upbeat amid high hopes for a Bitcoin strategic reserve at the upcoming White House crypto summit.

Image via Shutterstock

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