CRYPTO MOVERS AND PRICES
Crypto was relatively unchanged this morning with bitcoin consolidating around USD 11,500. Spot volumes remain elevated and near double the 30-day average.
CRYPTO STORY OF THE DAY
Research firm FSInsight has released a report, outlining developments and use cases for the Bitcoin SV (BSV) blockchain. The BSV ecosystem has been busy, however, the token hasn’t seen the kind of price uptick of other growing networks like LINK.
The FSInsight report outlines that BSV currently has more than 320 companies and services building on chain. These industries include: healthcare records management, supply Chain, big data & IoT, gaming, eSports, web browsers, advertising, fintech and investment. nChain, the World's largest holder of blockchain-related patents, continues to support well-funded BSV development. Furthermore, network statistics such as block size, number of transactions, costs etc... all show BSV with a growing market share versus other Bitcoin-chains. The report's underlying thesis is that BSV is supporting the evolution of internet business and has one of the most rapidly growing ecosystems out of any protocol.
We wrote earlier in the week that LINK had seen over 3x growth in its market cap in months after posting a consistent string of development and partnership announcements. That LINK and BSV could have such drastically different price activity, speaks to the fickle and flavor-of-the-week style investing of crypto. While LINK is the poster-child for today's most popular trading theme, DeFi, it wasn’t long ago that enterprise blockchain was seeing similar levels of attention. While crypto trading is in many ways evolving, differing price action among coins remains often more heavily weighted to narratives and hype than math.