Bitcoin Gold (BTG), a hard fork of Bitcoin, has experienced a significant surge in trading volume, reaching an astounding 25,000%. Over the past 24 hours, BTG’s trading volume amounted to $307,487,088, contributing to this remarkable increase. During this period, BTG’s value rose by 40.63% to $20.98. At press time, BTG has fallen to $18.27.
Moreover, the token saw a substantial gain of 13% within the last hour and an impressive 26.5% over the past seven days. However, the precise reason for this sudden surge in Bitcoin Gold’s trading volume remains unclear, as there have been no apparent announcements or upgrades indicated in its Twitter account feed that could have triggered such a rise.
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Bitcoin Gold puts on a spectacular show
Speculations are circulating that the rally might be linked to renewed interest in smaller tokens, including meme coins. Influential figures in the cryptocurrency space, like “Satoshi Club,” have also mentioned the surge in Bitcoin Gold, highlighting its 37% increase within 24 hours.
At the same time, Bitcoin forks, specifically Bitcoin SV and Bitcoin Cash, have also seen gains. The exact reasons behind the rallies of these Bitcoin forks are unknown, but it is evident that the overall demand for the Bitcoin blockchain is witnessing a surge similar to that seen during peak bull markets. This is further indicated by rising transaction fees, with on-chain analytics firm IntoTheBlock reporting a 37% increase in Bitcoin fees in the past week, and transaction numbers are on track to reach their highest level since May.
