Kaspa (KAS) Takes Off With 23% Burst – What’s Fueling The Thrust?
03 August 2023 - 9:25AM
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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. Related Reading: Curve
DAO (CRV) Price Recovery Post-Exploit: What Would Be A Realistic
Scenario? 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
$0.04792611, 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%. Source: Coingecko
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 $30,000, 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. KASUSDT trading at $0.046 on the daily chart:
TradingView.com 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. Related Reading: Binance Coin (BNB) Price Gears Up For A
10% Upswing – Here’s How 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
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