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With the crypto market receding in terms of its valuation from last week's highs, Kaspa (KAS) is visibly leading the altcoin momentum today. With a growth of 1.34% in the past 24 hours and more than 33% in the week-to-date period, the digital currency has expanded its valuation to a price of $0.02577.
Kaspa growth trigger
Kaspa has made headlines lately for its growth trends, and the current rally is being fueled by yet another impressive milestone associated with the protocol. As it unveiled on its Twitter page, it transitioned from a protocol whose speed was pegged at one BPS to one that now records 10 BPS.
🚀Groundbreaking 10BPS will be live and public on the $KAS testnet at 7AM UTC.
— Kaspa (@KaspaCurrency) June 26, 2023
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
This massive jump in transaction speed may be a game-changer for the protocol as it looks to gain more market share from key competitors in the Web3.0 world, including established Layer 1 protocols such as Ethereum (ETH), Cardano (ADA) and Solana (SOL), among others.
Kaspa has entered a new era where decentralized applications looking to build on it can boast of high performance amid impressive uptime. Another major compliment of the Kaspa upgrade is its low fees, a feature made possible due to its key technological framework, the GHOSTDAG protocol.
The recent revelation has enthralled the Kaspa community and may further drive up the rally that picked up since last week.
Search for cross-market buoyancy
The entire crypto market still has a high dependence on Bitcoin, which controls almost 50% of the combined industry capitalization.
While many cannot wriggle out of their tight correlations with Bitcoin, a key attempt is thus being made to maintain buoyancy so as to print occasional growth devoid of BTC's interference. This inherent need is why protocols like Kaspa are constantly innovating and introducing new products, services and technology that can generally give them a competitive edge.
Alex Dovbnya
Arman Shirinyan
