Bitcoin bouncing above $96,000, Kaspa surged 30% in just one day to claim the top gainer spot in the cryptocurrency top 100. Uncover how this PoW gem ascended to the peak.
Written by Grings - Last updated on 01/16/2025 at 15:45 by Grings
While the crypto market is still struggling to recover from its capitulation phase, some cryptocurrencies are standing out. Apart from XRP, Kaspa (KAS) has seen a remarkable surge of over 30% in just 24 hours, pushing its market capitalization above $3.4 billion.
Indeed, since Bitcoin dropped below $89,000, the KAS price has bounced from $0.107 to $0.139 this morning. Currently at $0.132, its impressive rebound seems to be hindered by a market anxious about upcoming CPI announcements.
As a reminder, Kaspa is now part of the plans of major Bitcoin miners: Marathon Digital. They have adopted mining KAS tokens to diversify their income as Bitcoin mining becomes increasingly competitive.
At the current rate, a Bitmain KS5 Pro machine yields $5.12 per day in KAS, accounting for electricity. In comparison, a Bitmain Bitcoin S21 XP 270 TH machine offers $5.77, according to AsicMinerValue site. It’s worth noting that the Bitcoin machine costs twice as much as the Kaspa KS5 Pro, resulting in half the cost for similar earnings. Moreover, the KAS token has a much higher growth potential than BTC.
Evidently, MARA’s addition of KAS provides increased visibility and legitimacy to this gem in the market.
The 0.20 cent high and resistance of KAS could be surpassed in the coming months.
Rumors suggest that Yonatan Sompolinsky could be Satoshi Nakamoto. While these remain rumors, he is undoubtedly a brilliant mathematician.
Thanks to their technologies GHOSTDAG and PHANTOM, miners can validate multiple blocks simultaneously. Their K-cluster system to hierarchize blocks provides a technology that combines security and scalability.
In this context, Yonatan has stated multiple times that Kaspa is a project aiming to develop an asset that is as close to “Satoshi’s true vision”.
Kaspa positions itself as an interesting alternative to Bitcoin and other PoW-based cryptocurrencies. Furthermore, the introduction of smart contracts on their blockchain opens up new opportunities.
In conclusion, the network clearly lacks one key element: listing on a top exchange. While they have been added on Kraken, Coinbase and Binance would be welcome additions for the PoW blockchain.
With $1.6 million in volume in the last 24 hours on Kraken and $14 million on ByBit, a listing on Binance could propel Kaspa into an impressive bull run. With $114 million in volumes without Binance or Coinbase listings, KAS could easily multiply its volumes by 5 or 10 when comparing them to its competitors’ volumes.
In this context, the market seems eagerly awaiting this listing. Indeed, the price surge could be attributed to a tweet from Binance stating: “Block time>Clock time”. The community is in a frenzy as they have been eagerly anticipating this listing for months now. Could this refer to Kaspa’s technology? Stay tuned for the answer in the coming weeks.
⚠️ This article is published for informational purposes and should not be considered as investment advice. Crypto-currency trading involves risk and it is important not to invest more than you can afford to lose.
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Graduated in Finance, Hugo, also known as 'Grings', is passionate about the cryptocurrency market and the opportunities offered by blockchain technology. Thanks to his technical background and informative approach, he is capable of writing simple articles on complex subjects.
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