Kaspa (KAS), a proof-of-work cryptocurrency employing the GHOSTDAG protocol, has seen a notable increase in market activity and investor interest in recent months.
The token’s recent listing on Coinone, one of South Korea’s leading cryptocurrency exchanges, has significantly boosted Kaspa into the top 33 cryptocurrencies based on market capitalization.
Since its listing on October 25 In the Korean market, Kaspa has surpassed well-known cryptocurrencies such as bitcoin (btc) and ethereum (eth) and popular meme coins like Dogecoin (DOGE) and pepecoin (PEPE) during market breakouts.
KAS Token Soars Reaching New All-Time High
During the last 24 hours, the price of KAS has increased by a remarkable 28.78%, reaching a high of $0.092917. Despite a slight drop in the current price, 0.72% below the all-time high, the token continues to show strong bullish momentum.
The recent increase in trading volume For Kaspa, which amounted to $114,934,098.78 in the last 24 hours, it represents a substantial increase of 121.50% compared to the previous day. This increase means greater market activity, indicating growing confidence and interest in the project.
In particular, Kaspa’s consensus mechanism, implemented through the GHOSTDAG protocol, distinguishes it from conventional ones. block chains. Using parallel blocks that can coexist and be ordered by consensus eliminates orphan blocks, providing greater security and scalability.
The blockDAG framework allows for a high blocking rate of one block per second, with aspirations to reach even higher rates of 10 blocks per second and eventually 100 blocks per second.
The Kaspa implementation encompasses several notable features and subprotocols, including accessibility to query DAG topology, bulk data pruning, SPV testing, and upcoming subnet support that will facilitate the implementation of Layer 2 solutions.
Kaspa Coinone listing causes price surge
Kaspa’s listing in Coinone has been a major catalyst for its recent price increase. Coinone has a substantial user base and provides a platform for investors to exchange Kaspa against the Korean won (KRW).
This inclusion has opened new avenues for korean investors participate in the Kaspa ecosystem, strengthening its market presence and contributing to its rapid rise in the market rankings.
Kaspa’s entry into this market has increased visibility and exposure to a wide range of potential traders and investors. The positive response to its listing on Coinone reflects the growing demand for Kaspa in the Korean crypto community.
Looking ahead, the successful listing on Coinone and the rise in market rankings indicate further gains for the token. The project’s consensus mechanism, along with the development of features such as subnet support and layer 2 solutions, positions it as a blockchain solution with growth potential.
Featured image from Shutterstock, chart from TradingView.com
