BitcoinSV Futures Reach a High of $600, BSV’s Market Cap Could Reach $2.5 Billion

BitcoinSV has reached a brief high of $600 in the first futures market launched ahead of a chain-split fork this November 15th.

BSV futures (pictured above) are currently trading at $140 on very low volumes of just about $20,000.

If that translates to a real price once the coin launches, then it would be a top ten coin with a market cap of $2.4 billion, above Cardano and not far off from potentially overtaking even Litecoin.

BitcoinABC futures have also been launched. There, price saw a very brief high of $4,200 due to an individual buying circa 0.01 BCHABC at that price.

Since then, ABC and SV have kind of split between each other BCH’s real price, but at the time of writing ABC stands at $536, while SV is at $139.99. Giving them a combined $670, about $80 more than the current BCH price of $590.

Trading volumes are very low with BSV’s price fluctuating between $140 to $80 with each trade. That’s partly because this has just launched on Poloniex, with it stating:

“Pre-fork trading is available immediately for the following pairs: BCHSV/USDC, BCHABC/USDC, BCHSV/BTC, and BCHABC/BTC. We are also opening up a BCH/USDC market.

Customers can convert Bitcoin Cash into equivalent amounts of BCHABC and BCHSV, and also convert SV and ABC back into BCH if they’d like to withdraw funds.

Customers can trade immediately, but won’t be able to withdraw BCHABC and BCHSV ahead of the hard fork.”

That might mean some considerable arbitrage opportunity if combined price goes above BCH’s real price, with these futures mainly useful to show what might be the actual price split once the new coin is born on November 15th.

It appears BSV will start off at about 20% to 30% of BCH’s price according to these futures, with BCH being the ABC client as stated by Coinbase, Binance and others.

That suggests we will probably see a “traditional” chain-split, the third so far in as many years.