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Bitcoin SV network sees increase early in BSV conference

Cryptocurrency

Users of the BSV network appear to be super excited for the BSV conference, after the data revealed a huge increase in Bitcoin SV activity

The volume of active addresses, as well as the transaction counts on the network, jumped exponentially in two days. This recovery occurred at a time when the crypto community was preparing for the CoinGeek Live conference in New York. It doesn’t take much to connect the dots and assign the ascent to the ongoing conference.

The number of active BSV addresses has aggressively increased to 947,400 as of today, from 110,000 on Monday. The increase translated into an impressive 761% increase rate just 48 hours before the CoinGeek Live event. The event started yesterday at 9am (GMT-4) and is scheduled to end on Friday.

The overwhelming increase sparked reactions from the crypto community on social media. Arthur van Pelt posted a tweet with a graphic indicating that the BSV network had surpassed the Ethereum network. He then followed up with a comment that we can only assume is sarcastic, “It sounds legitimate. Organic growth, I think. I bet it has nothing to do with #CGLive. ”.

Likewise, the number of transactions on the network increased from 0.715 million to 1.75 million – more than double the initial value. This represents a surprising growth rate of 145% in two days. Average transaction values, however, saw a two-thirds drop.

That said, there is still the possibility that the increase was just a coincidence. In the past, the network has shown some peculiar outbursts of activity. On July 10, the number of transactions jumped to 5.5 million. Before that, in the last week of June, active addresses were just over one million.

Among the notable figures at the CoinGeek Live conference is the president of the Bitcoin Association, Jimmy Nguyen. Nguyen emphasized that Bitcoin SV has incentives to combat bad behavior. He praised Bitcoin SV as “the set of fundamental rules for an entire network”, with the aim of “reinventing the internet”.

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