Bitcoin SV jumps back over $300 amidst global market rally

In the last 24 hours, Bitcoin SV (BSV) has gained more than 7% to reach over $300 for the first time since late January. At time of writing, BSV sits at just over $304, after adding almost half a billion dollars to its market cap since yesterday.

Following this most recent price action, Bitcoin SV is now the second-best performing large market capitalization cryptocurrency—narrowly edged out by Ethereum (ETH).

Despite its recent growth, Bitcoin SV has had an extremely volatile last month. Following earlier developments in the Craig Wright vs Kleimann court case, investors were initially led to believe that Wright would produce indisputable evidence of his ability to access $8 billion in Bitcoin, which would verify his claim to be Bitcoin creator Satoshi Nakamoto. This news caused BSV to pump to more than $400 last month. However, a later turn of events found Wright unable to prove that he could access the funds, leading Bitcoin SV to lose some of its recent gains.

After briefly flipping Bitcoin Cash (BCH) out of the position of fourth-largest cryptocurrency by market cap, Bitcoin SV has once again regressed to fifth-place after losing more than a third of its value in the space of three days in mid-January. Bitcoin SV currently retains the position of fifth largest cryptocurrency, with a market cap in excess of $5.5 billion.

With that said, Bitcoin SV isn't the only cryptocurrency experiencing strong growth today. Practically every major asset is performing well, with the global cryptocurrency market now up just over 3%.