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

Kaspa proof of work coinWhat) witnessed its market value rise to more than 3.43 billion US dollars, as trading volume jumped by more than 14% to reach more than 143 million US dollars during the same period. KAS is ranked among the biggest gainers in altcoins such as Bitcoin (Bitcoin) regained its position above $96,000 on January 14.

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

Kaspa has gained a lot of attention since Bitcoin mining company Marathon Digital added KAS to its mining operations. Before her Coming Crescendo hardfork Kaspa currently ranks as the seventh-largest mineable 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 the BlockDAG consensus algorithm, which allows blocks to be produced simultaneously. In contrast, Bitcoin miners receive rewards through a linear block process, where one block is produced approximately every ten minutes.

Digital Marathon KAS added to its mining operations in June 2024 - and Kaspa's price went on to touch an all-time high of $0.2074 on August 01, 2024. While the altcoin is up 17% in the past week, the recent bearish move across cryptocurrencies has seen KAS trade 13%. In red for the past 30 days. KAS also fell by more than 35% from ATH.

On the daily chart, the key resistance area is being retested above $0.13. The RSI at 60 and the bullish crossover of the moving average convergence and divergence indicate that momentum may be with the bulls.