The cryptocurrency market is slowly recovering from one of the largest cryptocurrency exchanges in the world, Binance, being hacked. The price of Binance [BNB] plunged on May 9. However, its rival coin, Bitcoin SV [BSV], appeared to be soaring. Bitcoin SV saw a major price rise over the past day, after stagnating for a while.
At press time, BSV was valued at $57.73 with a market cap of $1.02 billion. The 24-hour trading volume was reported to be $147 million, while noting a rise of 9.23% over the past day. This was a major pump for the coin since its slump. The coin soared by 8.10% over the past seven days, but fell by 0.68% over the past hour.
However, BSV started to fall immediately after noting a sudden hike and plunged by 3.42% since. Since BSV was delisted from various major exchanges, it was highly traded on Huobi Global with BSV/USDT pair and noted a volume of $14 million. The second place was taken by ZBG, reporting a trading volume of $13.77 million with BSV/USDT pair. ZBG was followed by 55Global Market as it registered $13.23 million in volume with BSV/USDT pair. All top three trades for the coin were carried out with USDT pair.
This rise in price came a day after Changpeng Zhao aka CZ, Binance’s CEO, announced funding the legal fees of those who are being sued by Craig Wright. The CEO said,
“CSW is picking on the people who have a hard time fronting their legal fees. How about we do a @BinanceBCF charity program to raise money from the community for legal fees for anyone CSW sues?”
After the tweet, the exchange was hacked and Binance coin [BNB] plunged.