Kaspa price jumps 20% to lead top altcoins

Kaspa is among the most profitable altcoins, recording double-digit gains over the past 24 hours.

The Kaspa proof of work coin (WHAT) saw its market capitalization surpass $3.43 billion, with trading volume jumping over 14% to over $143 million during the same period. KAS ranked among the top altcoin gainers like Bitcoin (BTC) regained its footing above $96,000 on January 14.

As Bitcoin rebounded from its recent drop to $90,000, Kaspa led the top 100 coins by market cap, after ai16z and Fartcoin. Other notable gainers include Lido DAO and IOTA, both up over 15% in the past 24 hours.

Kaspa has attracted considerable attention since Bitcoin mining company Marathon Digital added KAS to its mining operations. Ahead of his next Crescendo hardfork, Kaspa currently ranks as the seventh largest minable coin, placing it behind Bitcoin, Dogecoin, Bitcoin Cash, Litecoin, Ethereum Classic, and privacy-focused Monero.

Like Bitcoin, Kaspa uses the PoW consensus mechanism. However, it differs by using a BlockDAG consensus algorithm, which allows simultaneous production of blocks. In contrast, Bitcoin miners earn rewards through a linear block process, in which a block is produced approximately every ten minutes.

Digital marathon added KAS to its mining operations in June 2024 – and Kaspa price reached its all-time high of $0.2074 on August 1, 2024. While the altcoin is up 17% over the past week, the recent action at The decline on the crypto sees KAS trading 13% in the red over the past 30 days. KAS is also down over 35% from its ATH.

On the daily chart, we are retesting a key resistance zone above $0.13. The Relative Strength Index at 60 and the bullish crossover of the Moving Average Convergence Divergence suggest that momentum may be on the bulls’ side.