Another wonder has happened in the crypto industry: Kaspa (KAS) has just defeated many other altcoins to be ranked 188th by market capitalization. Before its breakthrough, the cryptocurrency was less known before it rallied to more than 85%. This is huge for many investors, as much of their attention has shifted to the token.
At one point, the Kaspa token was trading by more than 85%, which has been rare since the collapse of FTX. At the time of writing, the Kaspa token was trading at $0.0131. According to data from CoinGecko, the massive rally from the new token is the only one recorded among the top 200 coins in their database. In other words, the Kaspa token has risen faster than Bitcoin, Ethereum, and other top cryptocurrencies within the past few days.
The market value of the Kaspa token has also been solid, as its recent surge has increased its market cap drastically. The market cap of Kaspa tokens has increased by about $220.4 million, which is predicted to increase with the altcoins price. At the time of writing, the total market cap of the whole crypto industry stood at over $1 trillion.
Kaspa Token Massive Run
The Kaspa token has had an amazing run since the year started. But even in the early moments of its amazing run, not many investors took note of the token. The altcoin's price has increased by more than 137% in the last 30 days. This is huge compared to the increase of Bitcoin and other cryptocurrencies within the same period. And in the past two weeks, the cryptocurrency has increased by approximately 85%.
When the year started, the crypto market showed very good signs of a bullish trend but slowed down slightly in February. But that wasn't the case for the Kaspa token. It has been in a consistent run within the past two months. Despite the bearish outlook of the general crypto market, those who invested in this token are still skeptical of selling off the token. Within the past 24 hours, the trading volume of the Kaspa token stands at more than 3.5 million US dollars.
The Kaspa token uses the GHOSTDAG protocol and operates under the proof of work (PoW) network. Although it is less known to many, the token comes with many utilities, which gives it certain importance in the crypto industry. It can be used for payment of goods and services, and it can also be used for governance rights.
Kaspa Solid Scalability
The Kaspa token is far ahead of many cryptocurrencies of its rank in terms of scalability. Data issued by CoinStats shows almost 17 billion KAS coins in circulation. It has the same maximum supply of 17 billion KAS coins.
Compared to other cryptocurrencies operating under the proof of work (PoW) blockchain, the scalability of Kaspa tokens is very high. It has even greater scalability than Bitcoin. Even in terms of security, the architecture on which Kaspa operates is very tight. It has the same security architecture as Bitcoin. With this token's several features, it has great potential to become a top crypto in the market.