The Kaspa price skyrocketed by another 26% in the last 24 hours and is trading at $0.133 as of 8:30 a.m. ET ahead of the mainnet launch scheduled to take place in the coming weeks, as well as on speculation about possible new primary exchange listings.
Kaspa has seen a massive rise in its native cryptocurrency, KAS, which currently ranks as the 28th-largest cryptocurrency by market cap. The project’s market cap has increased by 26% in the last 24 hours, which pushed market cap to $2.81 billion.
However, its daily trading volume has broken all its previous records, skyrocketing by 200%.
All of this growth started on November 4, when the KAS price commenced its climb from $0.050 to a resistance at $0.10, which stopped its progression around November 10.
In the following days, the project corrected slightly to just under $0.09, acting as a resistance between November 11 and November 15. Meanwhile, the token also found strong support at $0.080, fluctuating between these two levels during the five days.
On November 15, however, Kaspa started seeing a new bullish wave that took it past the resistance at $0.090 and beyond the one at $0.10.
KAS encountered the next significant barrier later on the same day when it reached $0.12, and while this level took some time to breach, KAS managed to go beyond it only a few hours ago, on November 16.
The project reached an all-time high of $0.139 around 3:30 AM ET. So far, this resistance has managed to hold it from progressing further, even slightly rejecting its price to $0.131, which is where KAS sits at the time of writing.
Kaspa Price: Why The Surge?
While KAS is far from being the only cryptocurrency to see a rapid price increase recently, its chart is noticeably different from Bitcoin’s, suggesting that the original cryptocurrency’s performance is not what has been driving Kaspa’s value up.
Bitcoin’s rally likely did help by setting the stage for new growth, but it was only one of the contributing factors.
Instead, experts believe that two significant catalysts were behind Kaspa’s recent parabolic move. The first is the project’s upcoming mainnet launch, which is expected to take place over the next few weeks, a significant milestone for the Bitcoin-based smart contract platform.
Furthermore, the fact that Kaspa climbed to the 28th-largest cryptocurrency by market cap without any major exchange backing has also been used as evidence of the project’s rising popularity.
While it seems that the project has hit a significant barrier, this does not necessarily mean that KAS will not break it in days or even hours to come.
That suggest it’s well worth a look at this alternative, which is making waves in a booming presale.
Bitcoin Minetrix Presale Raises $4 Million
While the KAS price increase did captivate many among the crypto market participants, it is worth noting that there is a project that has attracted just as much, if not more, attention.
The project in question is Bitcoin Minetrix (BTCMTX), whose presale just hit a massive milestone of $4 million raised.
— Bitcoinminetrix (@bitcoinminetrix) November 13, 2023
The project’s native cryptocurrency, the BTCMTX token, is still priced at $0.0116 when writing, but it is also scheduled to see a new price increase in under 24 hours.
With that being the case, anyone who wants to buy it before the price goes further up needs to move quickly. The token is available in exchange for ETH and USDT but can be purchased directly via debit or credit card.
Bitcoin Minetrix is a project that offers a cloud mining platform for Bitcoin. Its users can purchase BTCMTX, stake it, and receive credits that allow them to mine BTC.
The platform is fully transparent and decentralized, so there is no concern about it being a scam, as with many other cloud miners.
With Bitcoin halving rapidly approaching, BTC mining is at its all-time high, so the popularity of a project that allows users to mine without expensive equipment is not surprising.
New Crypto Mining Platform – Bitcoin Minetrix
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- Native Token On Presale Now – BTCMTX
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