Ethereum

Kaspa

Bitcoin

strong bull

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
Veteran trader <a href="//twitter.com/PeterLBrandt/status/1691477734923677696/photo/1" rel="noopener noreferrer nofollow">Peter Brandt</a> has commented on the price action of KAS, the native coin of Kaspa, a Layer 1 solution. 
In response to a Twitter user's request for him to express his thoughts on KAS as a prominent chartist, Brandt commented positively about KAS, noting the crypto asset was definitely in a strong bullish trend. 
<a href="https://u.today/veteran-trader-peter-brandt-gives-golden-advice-to-crypto-traders" rel="noopener noreferrer nofollow">Brandt</a> draws his inference from gains posted by KAS so far in the year, noting the coin was up twentyfold in less than a year. He added that being a proof-of-work (POW) cryptocurrency might be positive for KAS. 
<img alt="TradingView" data-entity-type="file" data-entity-uuid="8b4d6825-d86c-4a3d-be5b-967fecd99676" src="https://u.today/sites/default/files/inline-images/16082023%200000.jpeg">KAS/USDT Daily Chart, Courtesy: <a href="https://twitter.com/PeterLBrandt/status/1691477734923677696/photo/1" rel="noopener noreferrer nofollow">Peter Brandt/TradingView</a> 
"Definitely in a strong bull trend, up 20-fold in less than a year. It is a POW coin; that is a positive, IMO," Brandt responded by sharing a KAS/USDT daily chart. 
At the time of writing, KAS was up 6.43% in the last 24 hours to $0.041. The gains are significant given the fact that Bitcoin, Ethereum and most crypto assets traded in losses at press time, with crypto liquidations amounting to $153 million in the last 24 hours, per <a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">CoinGlass</a> data. 
The recent price action on Kaspa left its market capitalization at around $834 million at press time. So far this year, Kaspa has seen a change of 686.04%. The gains are even larger in one year, as KAS is up 1,760%, per <a href="https://www.coingecko.com/en/coins/kaspa" rel="noopener noreferrer nofollow">CoinGecko </a>data. 
Kaspa has been on an ascent since late May. Notably, the price rally effectively started in early June after Kaspa hit support at the $0.013 level. Following that, the price of KAS surged substantially, reaching an all-time high of $0.051 on Aug. 6 before declining. 
Kaspa is built on the GHOSTDAG protocol, a generalization of the Bitcoin consensus algorithm. The native token of the project, KAS, is used for all on-chain transactions and to distribute mining rewards. 
<a href="https://kaspa.org/kaspa-achieves-10-bps-in-testnet-sets-a-new-benchmark-in-cryptocurrency/" rel="noopener noreferrer nofollow">Kaspa</a>, which aims to be the fastest and purest proof-of-work consensus engine, reached a historic milestone in June as it achieved an unprecedented 10 blocks per second (BPS) on its testnet.

Legendary Trader Peter Brandt Weighs in on Kaspa (KAS) Price Activity

U_Today

Other articles published on Aug 16, 2023

Crypto Influencer Issues Warning About Sam Altman and Worldcoin

Vitalik Opines On X’s Community Notes and Crypto Values

Gerino NFT Marketplace is About To Go Live!

SLB Stock Price Analysis: Can Schlumberger Create Waves in 2023?

Hawaii Governor: State is looking to acquire land destroyed in fires

The Most Interesting Hack Event of the Last Period Happened: 'The Hacker First Stole, Then He Rel...

Join our free newsletter for daily crypto updates!