The price of Kaspa (KAS) has reached a new all-time high of $0.092917 amidst a surge in the crypto market, where Bitcoin climbed to $36,800 and Ethereum breached $2,000 following BlackRock related sentiment.
The bullish sentiment across the market has driven most altcoins to surpass key resistance areas, resulting in Kaspa’s native token soaring from approximately $0.070986 to its all-time high of $0.092917 on November 9. Meanwhile, the price of Bitcoin rose above $36,800, and Ethereum surpassed the $2,000 mark.
Reasons for the Significant Increase in Kaspa Price Today
Despite slipping after reaching an all-time high, currently trading around $0.086249, KAS/USD remains 21% up in the past 24 hours while profit-taking behaviors are observed across the crypto market.
This surge in price is attributed to several positive catalysts that the proof-of-work (PoW) blockchain project has recently tapped into. The latest integration with the OKX Wallet, as well as previous collaborations with crypto platforms such as Poloniex, Bybit, and Coinone, have contributed to this upward momentum. Additionally, the official listing of KAS on CoinMarketCap has sparked speculation about potential trading support for the token by major crypto exchange Binance, which could further increase the buy pressure for KAS.
The increase in network strength for the GHOSTDAG protocol is also seen as a signal of an upward trajectory, with the network’s hashrate jumping to a new all-time high of 54.96 PH/s, coinciding with the blockchain platform’s two-year anniversary since the launch of its Genesis Block on November 7, 2021.
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### What is Kaspa (KAS)?
Kaspa (KAS) is the native token of the Kaspa network, a proof-of-work (PoW) blockchain project that aims to provide a scalable and decentralized infrastructure for the transfer and storage of value.
### What contributed to the surge in Kaspa’s price?
Several factors contributed to the surge in Kaspa’s price, including positive catalysts such as the integration with the OKX Wallet, collaborations with other crypto platforms, and the official listing of KAS on CoinMarketCap. Additionally, the network’s hashrate reaching a new all-time high has signaled an upward trajectory for the cryptocurrency.
### How has the broader crypto market performed amidst Kaspa’s price surge?
The broader crypto market experienced a bullish momentum, with Bitcoin surging to over $36,800 and Ethereum breaching the $2,000 mark following BlackRock related sentiment. This overall bullish sentiment across the market has influenced the surge in altcoins, including Kaspa’s native token.