It seems that users on the Bitcoin SV [BSV] network are super pumped for the BSV conference after data revealed a huge surge within the Bitcoin SV activity.
The volume of active addresses & the transaction counts on the network saw a recognizable jump within the ecosystem of two days. This upturn came at a time when the cryptocurrency space was gearing up for the CoinGeek Live conference held in New York. It doesn’t take tons to link the dots & attribute the upswing to the continued conference.
Several of active BSV addresses aggressively rose to 947,400 as of today from 110k earlier on Monday. The swell translated to a staggeringly high rate of 761% in only 48 hours before the CoinGeek Live event. The event started yesterday at 9 AM [GMT-4] & is scheduled to end on Friday.
The overwhelming upsurge provoked reactions from the cryptocurrency community on social media. Arthur van Pelt revealed a tweet with a chart remarking that the BSV network had surpassed the Ethereum [ETH] network. He then followed it up with a comment we can solely assume was sarcastic, “Seems legit. Organic Growth I feel. Has nothing to try with #CGLive I bet”.
By a similar token, several transactions on the network increased from 0.715 Mln to 1.75 Mln – over double the initial figure. This represents an astonishing rate of growth of 145% in 2- days. The typical transaction values, however, saw a two-thirds dip.
That added, there’s still an opportunity that the surge was just a coincidence. Within the past, the network has shown a few weird bursts of activity. Earlier on 10th July, the number of transactions jumped to over 5.5 Mln. Prior to this, within the last week of June, active addresses shortly exceeded a million.
Among the notable figures within the CoinGeek Live conference is Bitcoin Association President Jimmy Nguyen. Nguyen revealed that Bitcoin SV has incentives to urge against bad behavior. He lauded Bitcoin SV as “the foundational rule set for a whole network,” with the aim of “re-inventing the web.”