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Kaspa price shot up another 26% in the last 24 hours and is trading at $0.133 to 8:30 a.m. ET ahead of the mainnet launch scheduled for the coming weeks, as well as speculation about possible new listings on primary exchanges.
Kaspa has seen a massive surge in its native cryptocurrency, KAS, which currently ranks as the 28th largest cryptocurrency by market cap. The market capitalization of the project has increased by 26% in the last 24 hours, taking the market capitalization to $2.81 billion.
However, its daily trading volume has surpassed all its previous records, skyrocketing by 200%.
All this growth started on November 4, when KAS price started its rise 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 resistance between November 11 and November 15. Meanwhile, the token also found strong support at $0.080, fluctuating between these two levels over the five days.
However, on November 15, Kaspa began to see a new bullish wave that took it past the $0.090 resistance and beyond the $0.10 resistance.
KAS encountered the next significant barrier later in the day when it reached $0.12, and although this level took some time to break, KAS managed to break it just a few hours ago on November 16.
The project reached an all-time high of $0.139 around 3:30 a.m. (CET). So far, this resistance has managed to prevent further progress, even slightly rejecting its price at $0.131, which is where KAS is at the time of writing.
Kaspa Price: Why the increase?
While KAS is far from the only cryptocurrency to have seen a rapid price rise recently, its chart is noticeably different from bitcoin‘s, suggesting that the performance of the original cryptocurrency is not what has been driving Kaspa’s value. .
The bitcoin rally likely helped by laying the groundwork for new growth, but it was only one of the contributing factors.
Instead, experts believe that two major catalysts were behind Kaspa’s recent parabolic move. The first is the project’s upcoming mainnet launch, which is expected to take place in the coming weeks, a major milestone for the bitcoin-based smart contract platform.
The second is the anticipation of new listings on exchanges, especially on important platforms such as Coinbase, Binance or KuCoin.
Additionally, the fact that Kaspa has risen to the 28th largest cryptocurrency by market capitalization without any major exchange backing has also been used as evidence of the project’s growing popularity.
While it appears that the project has hit a major barrier, this does not necessarily mean that KAS will not overcome it in the coming days or even hours.
That suggests it’s worth taking a look at this alternative, which is making waves in a booming pre-sale.
bitcoin Minetrix pre-sale raises $4 million
While the KAS price surge captivated many cryptocurrency market participants, it is worth noting that there is one project that has attracted just as much attention, if not more.
The project in question is bitcoin Minetrix (BTCMTX), whose pre-sale just reached a massive milestone of $4 million raised.
#BitcoinMinetrix Stage 7 ends in 4 days! pic.twitter.com/LXsl2fPhzS
—Bitcoinminetrix (@bitcoinminetrix) November 13, 2023
The project’s native cryptocurrency, the BTCMTX token, is still priced at $0.0116 at the time of writing, but is also scheduled to see a further price increase in less than 24 hours.
That being the case, anyone looking to buy it before the price rises further should act 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 buy BTCMTX, stake it, and receive credits that allow them to mine btc.
The platform is fully transparent and decentralized, so there is no worry that it is a scam, as is the case with many other cloud miners.
With the bitcoin halving fast approaching, btc mining is at an all-time high, so the popularity of a project that allows users to mine without expensive equipment is not surprising.
Related
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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