Kaspa (KAS) Takes Altcoin Market By Storm With 60% Growth

Ronaldo Marquez

1 year ago

4 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Kaspa (KAS) has been making waves in the altcoin market lately, with its impressive surge of over 60% in the past 14 days, according to CoinGecko data.

The cryptocurrency is based on the GHOSTDAG protocol, which is a generalization of the Bitcoin Consensus. This protocol offers several advantages over traditional blockchain consensus mechanisms, including higher throughput and faster confirmation times.

Kaspa Emerges As Top Performer

Recently, the Kaspa team announced a significant new feature that is set to go live on the KAS testnet. The 10BPS feature promises to deliver “unmatched” transaction speeds of up to 10,000 transactions per second (TPS).

This is a massive improvement over the current transaction speeds of other major cryptocurrencies like Bitcoin and Ethereum, which typically offer only a fraction of this throughput.

According to the announcement, the 10BPS feature is currently being stress-tested on the KAS testnet, where it is setting new records for crypto BPS.

🚀Groundbreaking 10BPS will be live and public on the $KAS testnet at 7AM UTC.

Stress testing block and transaction rates & setting new records for #crypto #BPS.

More on how to participate soon.

Witness this milestone live: https://t.co/ZjXVeSwUKY #POW #RustyKas #rustlang pic.twitter.com/hjxXXhc5fo

— Kaspa (@KaspaCurrency) June 26, 2023

This considerable jump in transaction speed could be a game-changer for the Kaspa protocol, as it looks to gain more market share from established Layer 1 protocols such as Ethereum, Cardano, and Solana.

In addition to the 10BPS feature, the Kaspa blockchain offers several other impressive features that make it a compelling choice for developers and users alike.

One of the key features of the Kaspa blockchain is its scalability. The protocol is designed to support a high throughput of transactions, which makes it well-suited for use cases that require fast and efficient processing.

This scalability is achieved through the use of the GHOSTDAG consensus mechanism, which allows for a high degree of parallelism and concurrency in the processing of transactions.

Another key feature of the Kaspa blockchain is its security. The protocol is designed to be highly resistant to attacks, with a robust set of cryptographic algorithms and other security measures built in. This ensures that the network remains secure and reliable, even in the face of potential threats.

Will KAS Bullish Momentum Continue?

The cryptocurrency market has been on an upward trend lately, with many cryptocurrencies posting impressive gains over the past week.

Among these is KAS, which has seen a price increase of 28.90% in the last 7 days, outperforming both the global cryptocurrency market (up 9.80%) and similar Layer 1 (L1) cryptocurrencies (up 12.90%).

As of today, KAS is trading at $0.02558, with a 24-hour trade volume of $9 million. While the price has declined slightly by 0.83% in the last 24 hours, the overall trend is positive, with the cryptocurrency market showing signs of recovery after a period of consolidation.

In the short term, KAS is facing resistance at $0.02609, which it has struggled to break through since Saturday. However, if the token manages to overcome this resistance level and attract more players to its ecosystem, its bullish momentum may continue and new all-time highs could be within reach.

Conversely, in the event of a further price drop, the $0.02449 level may serve as a support floor for KAS. This means that if the price falls to this level, it may find some buying support from investors looking to enter the market at a lower price.

According to Coingecko, KAS has a total supply of 19 billion tokens, with a market capitalization of $495,310,928.

Featured image from Unsplash, chart from TradingView.com

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry.

One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision.

Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities.

Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth.

However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape.

Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge.

With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.