This Little-Known Altcoin Outmuscles Top 200 Cryptos With 85% Gain
There are few things as exciting in the cryptocurrency world as a new altcoin project that captures the attention of the cryptosphere.
Kaspa (KAS), ranked 188th by market capitalization, is one such project making headlines. Despite being a lesser-known altcoin in the highly stacked cryptocurrency market, Kaspa has emerged as a true challenger, having been inspired by the revolutionary principles of Bitcoin.
At the time of writing, KAS is trading at $0.0131, up a staggering 84.5% and emerging as the only cryptocurrency with such a high among the top 200 coins listed by Coingecko.
In the last 24 hours, KAS recorded a gain of 7%, although it lost only 0.5% in the last hour. The altcoin’s market cap currently stands at $220.4 million, the latest data shows.
The total market cap of all cryptocurrencies at the time of writing is $1 trillion, data from TradingView shows.
Lesser-known altcoin dominates rivals on monthly and biweekly scale
KAS is on a solid run, recording an impressive 137% increase over the last 30 days; the cryptocurrency also performed strongly over the fortnightly period, with 84%.
While the cryptocurrency market is showing symptoms of a slowdown after a strong start to the year, Kaspa investors are in no rush to take profits at this point. Currently, the 24-hour trading volume for the KSA is $3.7 million.
Kaspa is a proof-of-work (PoW) cryptocurrency that utilizes the GHOSTDAG protocol. The Kaspa token comes with several exciting features, including the ability to pay for goods and services, reduced trading fees, and voting and governance rights.
Image: CoinEx
Case: Solid Scalability
According to CoinStats, there are nearly 17 billion KAS coins in circulation. It has the same maximum supply of 17 billion units.
Kaspa provides the same level of security as Bitcoin (BTC), but its scalability is significantly higher. The scalability of Kaspa (KAS) is unmatched by other PoW blockchains.
In addition to a proof-of-work architecture, Kaspa claims to be the fastest and most scalable fast commit transaction layer. All transactions sent to miners can be readily added to the innovative blockDAG structured ledger.
Some altcoins are designed to fix Bitcoin-specific flaws, such as transaction speed or power consumption, while others have distinctive features, such as privacy or smart contract functionality.
Crypto total market cap at $1 trillion on the weekend chart | Chart: TradingView.com
The growing allure of altcoins
Altcoins have become increasingly popular in recent years, with hundreds of distinct altcoins accessible for trading on cryptocurrency exchanges.
When investing in cryptocurrencies, it is vital to conduct research and understand the potential risks and rewards, as with any investment.
Meanwhile, according to the current Kaspa price forecast from CoinCodex, the price of Kaspa is expected to increase by 32% and reach $0.0176 on March 8, 2023.
Based on the currency’s technical indicators, the prevailing mood is bullish, while the fear and greed index reads 51 (neutral).
-Featured image of Generation Iron