In recent days, the native token $KAS of the project Kaspa, a Layer 1 blockchain, has increased by 25%! Let’s find out why in this article.
The News
Of course, all of this pump is due to a lot of good news regarding the blockchain development and more. Let’s go into each one of them.
First of all, there is a strong rumor that Kaspa will be listed on Binance, which is huge news. Binance will help Kaspa attract more liquidity and thus increase the price. It’s not official, but here is why I think it’s possible :
The important thing an exchange looks for before listing a token is either if they will pay you or not. In this case, Kaspa is a fair launch, which means that the team doesn’t have a predetermined amount of tokens. So they can’t pay the exchanges. The other thing exchanges look at is volume. Why? Because the more volume there is, the more people are exchanging this token, and for each transaction, Binance takes a small amount as commission. That’s why they listed $BOME, for example, even though it was created the week before.
Another reason is that KRC20 tokens are coming ! This means that tokens will be able to be created on the Kaspa Blockchain. This will help attract developers.
The Hashrate
First, let’s explain what the hashrate is : Hash rate is the measure of the computational power of a proof-of-work (PoW) cryptocurrency network such as Kaspa. The higher the hashrate, the more secure the network is.
Source : Minerstat
This shows that the network is expanding and attracting miners to delegate power to protect the network. So it’s very promising !
As always thank you for reading !
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Disclaimer : This is not a financial advice, you need to do your own research !
