NEW YORK – The cryptocurrency market is witnessing a remarkable rebound led by Kaspa (KAS) as its value surged over 15% today following an announcement by Binance to list KAS for perpetual trading. This move by one of the largest crypto exchanges has significantly contributed to the overall increase in the crypto market value of around 2%.
Kaspa’s recent performance has been nothing short of remarkable. CoinMarketCap highlighted that following the Binance announcement, KAS’ trading price hit $0.135884, marking a daily increase of over 15%. This increase is part of a broader trend observed over the past week, with KAS achieving more than a 51% price increase, according to CoinGecko data. The 148% increase was around 148% with an increase of almost 192% during the month.
The Binance listing has not only raised the trading price, but has also given rise to an immediate price increase of around 15% along with an approximately 80% increase in trading volume. Market optimism around KAS is further fueled by the expected integration with the OKX wallet and an expected $1 million airdrop, which may continue to stimulate investor interest.
In other cryptocurrency news, Avalanche (AVAX) has also made headlines with a significant increase of 66% this week. AVAX’s rise comes on the heels of its inclusion in the Monetary Authority of Singapore’s (MAS) tokenization initiative, Project Guardian. Trading at $22.10, AVAX has experienced a monthly increase of 142.59%. This growth is attributed in part to JP Morgan’s Onyx platform leveraging AVAX for asset management innovation under Project Guardian.
Meanwhile, Near Protocol (NEAR) has not been left behind in this bullish crypto climate with a remarkable 25% growth this week and a monthly gain of 82%. NEAR’s partnership with Nym Technologies and achieving a market capitalization of $1,833,935,569 has played a crucial role in its ascent.
In contrast to these gains, Bitcoin has faced a slight decline of 1.5% for the week, but still shows an overall monthly gain of 28%. Ethereum has seen a drop of 4.9% yesterday and a weekly drop of 6.60%, trading at $1,970.23.
Investors are closely monitoring these developments as they reflect both the volatility and potential of the cryptocurrency markets. Recent increases underscore the dynamic nature of cryptoassets and their sensitivity to market developments such as IPOs and technology partnerships.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Get the news you want
Read moving market news with a personalized feed of stocks you care about.
Download the app