This Bitcoin based altcoin project skyrockets 115% amid series of updates – Investment opportunity of a lifetime?

March 4, 2023 Brazen Crypto Team Altcoin 0

  • Over the last month, the Kaspa (KSA) token has gained over 115% amid the rollout of several updates.
  • Another altcoin that’s currently defying the broader market consolidation is REN, shooting over 20% in a single day.

Inspired by the Bitcoin ethos, one altcoin project has taken the entire cryptosphere by storm. Ranked 199th by its market cap, Kaspa (KAS) has been the talk of the town registering more than 115% gains in a very short time amid a series of major updates taking place on the platform.

As of press time, Kaspa’s KAS token is currently trading at a price of $0.01315 and a market cap of $223.3 billion. At the current price, Kaspa (KAS) is currently trading at a new all-time high level. A majority of the gains have come over the last month wherein the KSA price has multiplied 2.3x registering 130% gains.

Although the altcoin space is showing signs of a slowdown after an early-year rally, Kaspa investors are in no mood to apply breaks at this point. The 24-hours trading volume for KSA is currently at $7.2 million.

More about the Kaspa Blockchain

Kaspa claims itself to be the fastest as well as the most scalable instant confirmation transaction layer built atop a proof-of-work engine. All the transactions sent to the miners can be included immediately in the ledger also structured as a revolutionary blockDAG.

BlockDAG is Kaspa’s version of the GhostDAG/PHANTOM protocol. It aims to deliver high block creation and transaction speed without any loss of decentralization and security which is a major issue with many higher-speed chains. Kaspa explains:

Its design is faithful to the principles Satoshi embedded into Bitcoin — proof-of-work mining, UTXO [unspent transaction output]-formed isolated state, deflationary monetary policy, no pre-mine, and no central governance. Kaspa is unique in its ability to support high block rates while maintaining the level of security offered by the most secure proof-of-work environments.

Kaspa is currently running a crowdfunding campaign in order to get its KAS token listed on the top 10 exchanges in the world. If the listing happens, KSA could see massive liquidity and trading volumes going ahead.

Recently, Kaspa released the latest version of the project’s whitepaper last week thereby sharing all technical details of the project’s algorithm and its working. Additionally, the project also announced that they are in the development stages of several new hardware wallets.

Altcoins In the News

Since the beginning of 2023, the altcoin space has delivered strong returns to investors gaining an average of 50-70% in just a month’s time. Some of the top-performing altcoins have been Polygon’s MATIC, Chainlink (LINK), Solana (SOL), and others. REN is one such altcoin under the radar that has seen heavy accumulation by shark addresses. While most of the altcoins have entered consolidation, REN gave a sharp 20%+ price pump in a single day.

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