Marathon Digital Holdings Inc. has diversified its mining activities by adding kaspa (KAS), a proof-of-work digital asset, to its portfolio. The initiative has already yielded significant results, with the company mining 93 million KAS, valued at approximately million as of June 25, 2024. Marathon Digital Diversifies With Kaspa Mining, Adds Million in Assets […]
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Kaching! Kaspa (KAS) Climbs 18% As Bitcoin Mining Heavyweight Goes All In
The world of cryptocurrency witnessed a surge in Kaspa (KAS), with its price jumping nearly 18% in the last week. This sudden bullish trend coincides with a major announcement from industry leader Marathon Digital (MARA), stirring excitement through the crypto ecosystem.
Marathon Makes A Move Into The Kaspaverse
On Wednesday, June 26th, Marathon Digital, a behemoth in Bitcoin mining, sent ripples through the crypto market by revealing they had begun mining Kaspa. This strategic move signifies a potential diversification of their revenue stream, venturing beyond the well-trodden path of Bitcoin.
Kaspa, a fellow proof-of-work cryptocurrency, boasts a unique advantage: speed. With a current value of a little over million, Marathon has mined close to 94 million KAS thus far.
#Kaspa has clearly broken through the 18 cent barrier and is heading for 19 cents!
After that we can expect a new all-time high for $KAS!#crypto #pow $BTC pic.twitter.com/ruNt9kfeoL
— KASPA Enthusiast 𐤊 (@KASPAEnthusiast) June 27, 2024
Unlike Bitcoin’s 10-minute block processing time, Kaspa leverages a BlockDAG (Directed Acyclic Graph) architecture, enabling it to churn out multiple blocks simultaneously. This translates to faster transaction processing, a potential game-changer in the ever-evolving world of digital payments.
Aligning With Profitability: Kaspa’s Allure
Marathon Digital’s decision to embrace Kaspa mining wasn’t solely driven by technological innovation. The company clearly sees an opportunity for increased profitability. Kaspa currently offers miners the potential for higher block rewards compared to Bitcoin.
Additionally, Marathon secured a significant amount of specialized Kaspa mining hardware (ASICs) last year, estimated to generate profit margins as high as 90% under optimal conditions.
Adam Swick, Marathon’s Chief Growth Officer, emphasized the strategic importance of this move:
“By mining Kaspa, we’re establishing a revenue stream separate from Bitcoin, one that directly aligns with our expertise in digital asset computing.”
Swick added that the organization’s existing infrastructure, strong relationships with hardware manufacturers, and a robust financial reserve positions them “perfectly to mine Kaspa and capitalize on the high margins it offers.”
Is This The Dawn Of A New Era For Kaspa?
The news of a Bitcoin giant entering the Kaspa arena has undoubtedly bolstered investor confidence in the cryptocurrency. The price surge reflects this newfound optimism, with Kaspa inching closer to its all-time high.
However, the cryptocurrency market remains notoriously volatile. While Kaspa’s technological edge and potential for profitability are undeniable, its future trajectory hinges on various factors, including wider adoption, developer activity, and overall market sentiment.
KAS Price Action
With a market size of .3 billion as of the time of publication, the price of Kaspa was trading at .1799, placing it in the top 25 cryptocurrencies. Additionally, Kaspa’s daily trade volume has increased by over 130% to 0 million. The altcoin is currently trading near its all-time highs and may be about to reach a price discovery.
Featured image from LiveAbout, chart from TradingView
Kaspa (KAS) To Hit $3 In Explosive Bull Run, Expert Predicts 2650% Surge
In the dynamic landscape of the cryptocurrency market, Kaspa (KAS) has emerged as a strong contender in the altcoin race, demonstrating notable growth and breaking through the .1109 barrier in the past 24 hours, representing a 10.5% increase in this time frame.
Interestingly, the bullish momentum for KAS might be far from over as potential catalysts loom on the horizon. These catalysts could propel the token to new all-time highs, surpassing its previous peak of .1527.
KAS Targets – In Next Bull Run
In a recent post on X (formerly Twitter), crypto analyst Daan de Rover expressed optimism for Kaspa’s future, offering compelling reasons for the coin’s potential growth.
One key factor is Kaspa’s fair launch, meaning no KAS tokens were reserved for exchange listings. This bullish characteristic becomes apparent as Kaspa is not listed on major exchanges such as Binance, Coinbase, and OKX.
If these exchanges decide to list Kaspa, de Rover states that they would need to acquire KAS tokens from the open market, thereby increasing demand and liquidity.
Given Kaspa’s reputation and the hype surrounding the project, de Rover believes that realistic price targets of to are achievable in the next bull run, representing a 2650% increase from current price levels.
To understand de Rover’s thesis, in November 2023, NewsBTC reported the listing of KAS on Coinone, one of the largest cryptocurrency exchanges in South Korea.
Following this listing, KAS experienced a remarkable surge, catapulting it into the top 33 cryptocurrencies by market capitalization (currently 38). In a matter of days, KAS skyrocketed from .05139 to its current all-time high of .1545 on November 19.
This surge represented a price increase of over 200%, underscoring the significant boost that exchange listings can provide to the Kaspa ecosystem and its price action.
Should Kaspa secure listings on major exchanges such as Binance and Coinbase, similar or greater growth and market exposure can be expected, even greater than the Coinone listing. Such a development would attract a wider range of investors and contribute to the overall success of the coin, in line with De Rover’s pricing analysis.
A Closer Look At Kaspa
Kaspa has gained attention for utilizing the proof-of-work (PoW) consensus mechanism and implementing a blockDAG (Block Directed Acyclic Graph) architecture.
This design allows for the coexistence of multiple blocks in parallel, effectively addressing the challenge of high orphan rates commonly associated with traditional blockchains.
Inspired by the foundational work of Satoshi Nakamoto, Kaspa aims to preserve key aspects of the Bitcoin (BTC) consensus. These include the PoW mining method, a deflationary economic model, and decentralized decision-making processes.
By incorporating these fundamental principles, Kaspa seeks to provide a robust and secure foundation for its blockchain ecosystem.
At the core of Kaspa’s functionality is the GHOSTDAG protocol, which enables parallel blocks to exist and be ordered through consensus. This approach, known as a blockDAG, ensures secure operation while maintaining high block rates.
Currently operating at one block per second, Kaspa aims to achieve even higher rates, ranging from 10 to 100 blocks per second.
Interestingly, this scalability potential has set Kaspa apart from many other blockchain networks, potentially catching the eye of investors, and may be one of the reasons for its current price growth, which has seen KAS grow continuously for over a year with a 1471% spike.
Overall, by addressing challenges associated with orphan rates and offering a decentralized and community-focused approach, the network aims to provide a solid foundation for a wide range of applications that require secure blockchain solutions.
Featured image from Shutterstock, chart from TradingView.com
What Is Kaspa (KAS) Blockchain?
The Kaspa (KAS) blockchain is a decentralized, open-source, and scalable Layer-1 solution often referred to as “Bitcoin 2.0” or “the next Bitcoin.” However, Kaspa is unique in its own way despite functioning very similarly to Bitcoin. Just like Bitcoin, Kaspa is a proof of work (PoW) cryptocurrency, but unlike other traditional blockchains, Kaspa implemented the GHOSTDAG protocol.
This protocol is unique in the fact that it does not have orphan blocks created in parallel. Rather, it allows them to coexist and orders them in consensus. This makes Kaspa the first of its kind to do this, with the blockDAG (Block Directed Acyclic Graph) protocol being a generalization of Nakamoto’s consensus.
The Founder And The Team Behind The Kaspa (KAS) Network
The founder of Kaspa is Yonatan Sompolinsky, a Ph.D. in Computer Science at Havard University and a member of the Maximal extractable value (MEV) research team. He was also in Ethereum’s whitepaper and rumored to be in Ripple’s whitepaper as well.
Sompolinsky had direct input in creating Ethereum’s technology design, having designed the GHOSTDAG protocol earlier. Interestingly, the founder’s 2013 paper on the GHOSTDAG protocol is cited in Ethereum’s whitepaper.
The development team is made up of very talented individuals such as Cryptography Researcher Elichai Turkel, Doctoral student Shai Wyborski, Developer Ori Newman, Master of Computer Science Michael Sutton, and Developer Mike Zak. They have all contributed to the implementation and ongoing development of the Kaspa blockchain network.
Differences And Similarities Between Kaspa (KAS) And Bitcoin (BTC)
At the very base of its technology, Kaspa is very similar to the Bitcoin network in the way it’s structured. Some of these similarities are outlined below:
- Utility: Bitcoin is a Layer 1 blockchain solution that functions as a store of value, often referred to as digital gold, functioning as a peer-to-peer cryptocurrency. Likewise, Kaspa is a Layer 1 solution purported to be a store of value and functioning as peer-to-peer cash.
Related Reading: What Are The Top 8 DeFi And Web3 Wallets To Use In Crypto?
- Limited Total supply: Bitcoin has a maximum total supply of 21 million BTC to be ever mined, meaning new coins can never be created after all of these coins are mined. In a similar fashion, Kaspa has a maximum total supply of 28.7 billion coins, with a little over 22.5 billion in circulation.
- Halving Events: Both Kaspa and Bitcoin undergo halving, which slashes the block rewards for miners in half. However, while Bitcoin undergoes a halving event every four years, Kaspa uses a Chromatic Halving Schedule, “meaning that rewards smoothly decrease every month in a quantitative manner that results in a 50% emission reduction per annum,” according to its website.
- Decentralization/Proof of work: Both blockchains employ a decentralized proof of work mechanism, meaning that the network is secured by miners who solve complex mathematical equations to mine blocks and confirm transactions. Unfortunately, this also means that both networks are energy-intensive and require a lot of power to run.
One major difference between both networks is that Kaspa solves the issue of scalability that continues to plague Bitcoin. This means that while both networks use a proof of work mechanism, Kaspa is able to carry out transactions at a faster rate as well as cheaper fees.
How Does Kaspa The Blockchain Solve Trilemma Issues?
The Blockchain Trilemma refers to the three critical aspects of blockchain technology, which are security, scalability, and decentralization. This trilemma continues to plague leading blockchains such as Bitcoin and Ethereum, and they continue to battle these issues. This is because, in order to ensure security and decentralization, something had to give, and in both cases, it was scalability.
However, Kaspa, on the other hand, is one of the few blockchains to solve the blockchain trilemma, as it is decentralized, scalable, and secured. It solves the blockchain trilemma issues through its integration of proof of work (PoW) and the blockDAG structure.
How Does The Kaspa GhostDAG Protocol Work?
Most blockchains that digitally process transactions do so in the form of blocks, hence the name blockchain. Kaspa, however, deviates from this because it does not store digital transactions in blocks. Instead, it does so using a complex mathematical structure called a DAG (Directed Acyclic Graph).
In a DAG (Directed Acyclic Graph), vertices are present instead of blocks. So, instead of referring to different units as forming blocks, each different vertice forms edges when connected to each other. The blockchain then relies on present transactions to validate and confirm transactions that come after it.
Kaspa does not discard previous blocks of information; therefore, it is more secure and scalable. Its mining relies on kHeavyHash, which is a form of optical mining algorithm that is energy efficient and works well with mining equipment such as FPGAs and GPUs.
Prominent Features Of Kaspa (KAS)
Efficient Proof of Wook: Kaspa is a one-of-a-kind blockchain that has managed to maintain its Proof of Work mechanism while also solving the blockchain trilemma. To put this in perspective, blockchains such as Ethereum have had to move from Proof of Work (PoW) to Proof of Stake (PoS) in an effort to solve their scalability issues and make them faster.
However, since Kaspa already solved the blockchain trilemma, this makes it highly scalable while maintaining a truly decentralized system. Its utilization of the optical-mining-ready kHeavyHash algorithm also helps to ensure the consensus and security of the network.
Instant Transaction Confirmation: Kaspa was designed to be cheaper and faster than Bitcoin, where full confirmation of a transaction takes an average of 10 seconds, with each transaction visible to the network in one second. This is significant when compared to Bitcoin, which takes an average of 10 minutes to confirm a transaction.
Security: When it comes to security, Kaspa did not just employ the same security principles and methodology as Bitcoin, it took it a step further as it replaced the SHA-256 PoW encryption with kHeavyHash, while inheriting all the security properties of SHA-256. Thus, its network is still secured by a robust network of decentralized volunteers (miners) who validate and sign transactions just like Bitcoin.
Cheaper Fees: Not only does the Kaspa Blockchain network confirm transactions fast, but it is also significantly cheaper than Bitcoin. This is because the blockDAG network generates multiple blocks every second for posting transactions to the ledger, whereas Bitcoin generates one block every 10 minutes. Transaction fees on Kaspa cost less than a cent, while transaction fees on Bitcoin cost an average of at the time of this publication.
Scalability: Kaspa solves scalability issues with its blockDAG network’s ability to generate and confirm multiple blocks per second, as mentioned above. But perhaps the most interesting part of what Kaspa does is that it is able to confirm so many blocks (vertices) per second without altering or giving up its decentralized nature.
What Is KAS Coin And What Are Its Uses?
KAS coin is the native token of the Kaspa blockchain, whose main objective is to power the whole network. It is used to pay for transaction fees and other forms of developer’s fees, and it is also used as an incentive to reward miners. Its block rates are rapid and promise swift rewards, as well as offering profitable mining with lower hash rate requirements compared to Bitcoin.
The Tokenomics of Kaspa (KAS)
Kaspa’s native cryptocurrency, KAS, has a maximum or total supply of 28.7 billion coins that are not pre-mined. This means all of the tokens in circulation have been free-mined by miners on the blockchain. It has a circulating supply of 22.5 billion at the time of publication, and estimates are that with the current halving model, the last KAS coin will be mined in 2037.
The Kaspa network utilizes an open crowdfunding and voting governance model, which means that KAS holders can contribute to the network for development, marketing initiatives, education, etc.
This sense of shared responsibility and ownership motivates the community to come together and work toward collective goals.
KAS Price History And Progress
Kaspa launched its mainnet along with its token two years ago, on November 7, 2021. Initially, the price of its native token, KAS, remained stagnant until July 2022, when it pumped from .0001840 to .0005890. It then traded sideways for months before going on another rally, triggering a 694% increase in price.
Following this, the KAS price rose to almost .01 per coin in just a year after its launch in November 2022. The price dipped a bit and started off trading 2023 with .005278 per coin. KAS would then go on to hit a new all-time high of .154 in November 2023, exactly two years from the month it launched.
Kaspa (KAS) is up 61,331% since its all-time low of .00017105 on May 26, 2022, according to Coingecko. This is significant because the surge to its new all-time highs took place during a bitter bear market, causing the coin to outperform the rest of the crypto market.
This immense growth in such a short time has led to some of Kaspa’s investors referring to it as ‘Bitcoin 2.0’ or ‘The next Bitcoin.’ Its similarities with Bitcoin have also fueled the belief that it is the next Bitcoin. With a market cap of .38 billion, Kaspa is currently the 38th-largest cryptocurrency in the space and the 7th-largest Proof of Work (PoW) blockchain.
Conclusion
Kaspa (KAS) solving the blockchain trilemma with the ability to be scalable and still be decentralized gives it an edge over blockchains such as Bitcoin. Its native KAS coin also has important use cases like powering the entire Kaspa blockchain protocol and being used for transaction fees. This ensures that the coin is always in demand as the Kaspa network usage grows.
Additionally, features like fast transactions, top-notch security due to its encryption with kHeavyHash, and a robust network of decentralized volunteers (miners) who validate and sign transactions make it an appealing choice for investors looking for an alternative to Bitcoin while enjoying the security and decentralization of Bitcoin.
Top 2 Under The Radar Altcoins That Could Do A 70000% Run Like Kaspa (KAS)
Anyone paying attention to the crypto industry and altcoins in the last few months will have noticed the incredible run that the Kaspa native token, KAS, went on. When all was said and done, the token’s price had risen over 70000% from its all-time low of .0001699 which was recorded on June 1, 2022, according to data from Coinmarketcap.
Given that the KAS token has risen so much, all eyes are now on the next coin that could replicate this growth. With thousands of altcoins in the space to pick from, with many of them being scams, it can be daunting to know which coins have the potential for such a rally. So in this report, we take a look at two altcoins that could potentially go the way of KAS and secure massive gains for investors.
Geeq (GEEQ) Leads Low Cap Altcoins With Utility
Geeq (GEEQ) was one of the many altcoins that burst into the scene back in 2020 as the bull market took flight. In the same year, the token would hit a new all-time high. But perhaps the most alluring part of the project was the many utilities that followed suit.
As X (formerly Twitter) user Dexter lists out, GEEQ has a host of things that contribute to a bullish narrative. These include patented technology, its own payment service called GEEQ Pay, GEEQ Data, the GEEQ chain, the Internet of Things (IoT), supply chain, real-world assets (RWAs), etc.
Generational Bottom for the $GEEQ?
Patented tech.
Geeq Data
Geeq Chain
Geeq Pay#SupplyChain#IoT,
Secure Data,
NFTs or RWAs etc.L0, micropayment, smartcontract.
Partnership with @MNWSupplyChain for #SupplyChain#IoT, Secure Data, NFTs or RWAs etc.Aped a little today, will… pic.twitter.com/e3ATuYBPZe
— deXer (@DexerXP) November 13, 2023
The project is currently in the testnet phase which has often been a bullish narrative for the likes of Kaspa (KAS). When a mainnet arrives, it will make it a prominent player among established blockchains.
GEEQ’s market cap is currently sitting at less than million which gives it a lot of runway to pull a run like KAS. It is also listed on multiple centralized and decentralized exchanges, including KuCoin, AscendEX, and Uniswap, among others.
OXBT Piggybacks Off The Ordinals Craze
As Ordinals became more of a fixture in the crypto market, multiple projects emerged that enjoyed the majority of the popularity. Some of these include the ORDI project that eventually scored a Binance listing and its price soared above sending its market cap to 0 million.
However, others such as OXBT (Ordinals) were right behind ORDI and have enjoyed a good level of success as well. OXBT’s price rose as high as before falling more than 99%. But still remains one of the largest Ordinals tokens in the market.
For OXBT, which is currently sitting at just a .1 million market cap, the bull narrative lies in the fact that Ordinals could make a comeback. This is not the first time that a narrative could be seen as over but yet come back stronger. Even the Ordinals have already proven this is possible. In such a case, then OXBT would be right behind ORDI and a run up to a 0 million market cap would mean a 100x, and could go higher as the bull market rolls around, performing similarly to Kaspa (KAS).
“Disclaimer: The following op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.”
Kaspa Binance Listing Sparks Frenzy: 50% Price Surge Captures Investors’ Interest
Kaspa, a relatively recent entrant to the cryptocurrency market, has emerged as one of the top performers this weekend, experiencing a remarkable surge in value. This surge aligns with a broader trend, as the entire market capitalization of the crypto market has grown by over 5%, underscoring a substantial increase in overall value.
In the past week alone, Kaspa’s price has soared significantly, contributing to its standout performance in the dynamic cryptocurrency landscape.
The value of Kaspa (KAS) surged last week after it was added to the Coinbase Global platform, hitting a record high. This is frequently linked to the “Coinbase effect,” which gives the listed commodity a sense of legitimacy.
Also, following the announcement of possible expansion in the Bitcoin cloud mining phenomenon, the altcoin saw a sharp increase. In the next days, there will also be updates on KAS’s integration with the OKX wallet and a million airdrop.
The sentiment gained steam when one of the biggest cryptocurrency exchanges in the world, Binance, declared that it would launch Kaspa for perpetual trading, Friday, drawing interest from investors.
The token’s price climbed by 15% in just one day as a result of this statement, while trading volume increased by 80% between Thursday and Friday. With better order execution and lively buyer-seller interaction, the increased activity indicates that the market is reacting favorably to the listing.
At the time of writing, KAS was trading at .135, up nearly 6% in the last 24 hours, and commanding a solid 55% rally in the last seven days, data from crypto price aggregator Coingecko shows.
As November commenced, there was a notable positive turn of events as the price successfully breached the upper boundary, signaling a potential shift in market dynamics.
Subsequently, the Kaspa coin witnessed substantial price movement, attaining a fresh annual peak. However, it encountered resistance and was turned away at the .09732 mark, leading to a correction with a decline exceeding 10% in value.
Despite this setback, Kaspa’s price regained traction, surpassing resistance levels and steadily appreciating. In more recent developments, the price confronted rejection at .137, setting the stage for an imminent retest of this level, the outcome of which remains uncertain.
On average, the price of a newly listed coin on the Coinbase exchange tends to increase by over 80% within the first five days of its listing. Notably, Kaspa has had a growth of more than 60% since reaching a low of .0800 on November 13.
The act of becoming publicly listed on the top cryptocurrency exchange in terms of trading volume is indicative of establishing credibility and authenticity.
Even while metrics like the Relative Strength Index (RSI) indicate that Kaspa might be overbought, upside is still possible. Long-term investors may have an opportunity if KAS can break above .140 and achieve a new range high of .148, according to market observers.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from Pixabay
Kaspa Rules The Weekend Top 100 Coin Roster With 63% Rally – Details
Kaspa (KAS) has emerged as a notable altcoin, drawing considerable interest from investors. Notably, the cryptocurrency has achieved its all-time high, experiencing an impressive 66% increase over the previous week.
Examining the monthly performance charts reveals an even more substantial upward trajectory, with KAS exhibiting a remarkable surge of over 90%. Zooming out to a year-long perspective, the altcoin has witnessed an astonishing increase of over 2,000%, showcasing its significant growth over this extended period.
Investors are closely monitoring Kaspa as it continues to showcase strong bullish momentum, reflecting the cryptocurrency market’s dynamic nature. The rapid and substantial increases in both short-term and long-term intervals underscore the token’s potential for high returns.
Kaspa Shows Mettle, Pulls Off Its Own Rally
With Bitcoin surpassing the ,800 threshold and Ethereum exceeding ,000, the native token of Kaspa pulled off its own ascent, rising from approximately .070986 to reach an unprecedented peak of .092917.
Based on the aforementioned data, it can be observed that Kaspa is one of the limited number of tokens now experiencing their highest recorded values. Many cryptocurrencies registered a significant decline from their historical peak values following the occurrence of a market downturn commonly referred to as the “crypto winter.” This period witnessed the collapse of prominent crypto entities such as Terra Luna and FTX crypto exchange.
Based on the data provided by CoinMarketCap, it can be observed that the trading volume of Kaspa’s (KAS) has experienced a significant surge of more than 95%.
Additionally, the market capitalization of KAS has exhibited a notable gain of nearly 20%. Furthermore, there has been a significant increase in trading volume, with a jump of around 380% compared to the preceding week. The current market capitalization of the project stands just above .8 billion.
This increase in value positions Kaspa as a compelling investment option, capturing the attention of those seeking opportunities in the ever-evolving landscape of digital assets. As the altcoin landscape continues to evolve, Kaspa’s impressive performance highlights its resilience and appeal, making it a noteworthy player in the cryptocurrency market.
The inclusion of Kaspa on Coinone’s platform is its initial foray into the cryptocurrency market in South Korea, granting it significant visibility among a group of investors who are very interested in blockchain initiatives and digital assets. The unique GHOSTDAG protocol, authored by Kaspa, garnered the interest of Korean traders.
Kaspa Makes Foray Into South Korea
The latest indication of Kaspa’s growing popularity among cryptocurrency traders and investors is its successful entry into the South Korean market. As Kaspa develops and realizes its lofty vision of scalability, security, and practical application, it appears ready for more expansion.
KAS’s future trajectory remains uncertain, with the potential for further rally or a correction. Reaching would signify a remarkable 1062% growth, though it seems unlikely currently. The possibility of a correction looms, despite community members maintaining a target of at least .10.
The recent surge in Bitcoin (BTC) to a yearly high of over k may have influenced KAS’s all-time high, suggesting that KAS and other altcoins could follow BTC’s lead if it continues to rally.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from Coingecko
Kaspa (KAS) Price Shatters Records, Outshining Bitcoin With A Massive 105% Surge
Kaspa (KAS), a proof-of-work cryptocurrency employing the GHOSTDAG protocol, has experienced a notable surge in market activity and investor interest over the past few months.
The token’s recent listing on Coinone, one of South Korea’s leading cryptocurrency exchanges, has significantly propelled Kaspa into the top 33 cryptocurrencies based on market capitalization.
Since its listing on October 25 in the Korean market, Kaspa has outperformed well-known cryptocurrencies like Bitcoin (BTC), and Ethereum (ETH) and popular meme coins such as Dogecoin (DOGE) and Pepecoin (PEPE) during market breakouts.
KAS Token Skyrockets Reaching New All-Time High
Over the past 24 hours, the price of KAS has increased by a remarkable 28.78%, reaching a high of .092917. Despite a slight dip in the current price, 0.72% below the all-time high, the token continues to exhibit strong upward momentum.
The recent surge in trading volume for Kaspa, amounting to 4,934,098.78 within the last 24 hours, represents a substantial increase of 121.50% compared to the previous day. This surge signifies heightened market activity, indicating growing confidence and interest in the project.
Notably, Kaspa’s consensus mechanism, implemented through the GHOSTDAG protocol, sets it apart from conventional blockchains. Using parallel blocks that can coexist and be ordered through consensus eliminates block orphans, providing enhanced security and scalability.
The blockDAG structure enables a high block rate of one block per second, with aspirations to reach even higher rates of 10 blocks per second and eventually 100 blocks per second.
The Kaspa implementation encompasses several notable features and subprotocols, including Reachability for querying the DAG’s topology, block data pruning, SPV proofs, and upcoming subnetwork support that will facilitate the implementation of layer 2 solutions.
Kaspa Coinone Listing Sparks Price Surge
The listing of Kaspa on Coinone has been a significant catalyst for its recent price surge. Coinone has a substantial user base and provides a platform for investors to trade Kaspa against the Korean won (KRW).
This listing has opened up fresh avenues for Korean investors to participate in the Kaspa ecosystem, bolstering its market presence and contributing to its rapid ascent in the market rankings.
Kaspa’s entry into this market has increased visibility and exposure to a wide range of traders and potential investors. The positive response to its listing on Coinone reflects the growing demand for Kaspa in the Korean crypto community.
Looking ahead, the successful listing on Coinone and the surge in market rankings indicate further gains for the token. The project’s consensus mechanism, coupled with its development of features like subnetwork support and layer 2 solutions, positions it as a blockchain solution with growth potential.
Featured image from Shutterstock, chart from TradingView.com
Kaspa (KAS) Takes Off With 23% Burst – What’s Fueling The Thrust?
Kaspa continues to captivate the blockchain sphere with its interesting nature as a Directed Acyclic Graph (DAG)-based proof-of-work (PoW) platform. Emerging onto the scene precisely when the blockchain realm was searching for an Ethereum (ETH) alternative, Kaspa’s protocol arrived as a timely solution. This came after Ethereum’s transition from proof-of-work to a proof-of-stake (PoS) framework the previous year.
A DAG-based PoW is a variation of the traditional proof-of-work consensus mechanism used in blockchain systems. In a typical blockchain PoW system, miners compete to solve complex mathematical puzzles in order to add new blocks to the blockchain. This process requires significant computational power and energy consumption.
The native coin of the Kaspa ecosystem, KAS, has recently generated significant attention. Its performance has been notably impressive, even in a challenging bear market.
Currently priced at .04792611, according to CoinGecko data, KAS has exhibited a 17.3% surge in the last 24 hours. Over the past seven days, KAS has demonstrated an impressive climb of 23.3%.
Driving Forces Behind KAS Coin’s Remarkable Growth
Kaspa’s recent surge in prominence can be attributed to a strategic move that has set the stage for its remarkable growth trajectory. The blockchain platform has successfully concluded a crowdfund endeavor with a clear objective: securing a prestigious Tier-1 Exchange listing for its native token, KAS.
The Tier-1 Exchange Crowdfund for #Kaspa has been successfully completed, thanks to your immense support! More details coming soon.
The $KAS browser wallet crowdfund is still live.
Let’s keep the momentum going!Let’s continue to shape the future of finance.… pic.twitter.com/8Oda5yivFA
— Kaspa (@KaspaCurrency) August 2, 2023
The crowdfund, which reached its conclusion on Aug. 2, aimed to amass a substantial sum of ,000, drawing contributions in USDT and KAS tokens.
Insights into this crowdfund achievement, provided through an update via reliable sources, promise to be unveiled shortly. The anticipation surrounding these forthcoming details suggests a direct correlation between this significant milestone and the recent surge in KAS’s valuation.
An astute Twitter user even pointed out an intriguing phenomenon: many traders appear to be divesting their Bitcoin holdings to acquire KAS tokens.
Folks are literally selling $BTC to buy $KAS. Mission achieved.
— Dr Martin Hiesboeck (@MHiesboeck) August 2, 2023
Diverse Investor Engagement Fuels Kaspa’s Rise
A July Medium blog post by Kaspa shines a light on the purposeful allocation of funds raised through this ambitious campaign. The primary objective of the amassed funds is to fulfill the listing fee requirements established by a centralized exchange (CEX) set to list the KAS token. The CEX will judiciously utilize this substantial capital to orchestrate an extensive and impactful advertising campaign.
While the loyal native community has undeniably been a cornerstone of Kaspa’s growth, the entry of investors from diverse protocols, including Ethereum, has significantly fortified the project’s standing on a broader spectrum. As noted in a recent report, this influx of interest has magnified Kaspa’s allure, establishing it as an attractive proposition for a wider audience.
In a distinct departure from its competitors, Kaspa has distinguished itself through its remarkable capacity to process an impressive 100 blocks per second. This exceptional throughput rate introduces a level of efficiency that renders it exceptionally suited for enterprise adoption. This technical prowess demonstrates Kaspa’s commitment to scalability and opens doors to a myriad of real-world applications.
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).
Featured image from Pexels