NEW YORK - The cryptocurrency market is witnessing a notable upswing with Kaspa (KAS) leading the charge, as its value soared 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 crypto market cap increase of about 2%.
Kaspa's recent performance has been nothing short of remarkable. CoinMarketCap highlighted that, following the Binance announcement, KAS's trade price hit $0.135884, marking a daily appreciation exceeding 15%. This surge is part of a broader trend observed over the past week, where KAS achieved more than a 51% price hike, according to CoinGecko data. The fortnightly gain stood at about 148%, with an almost 192% increase over the month.
The Binance listing has not only elevated the trade price but also prompted an immediate price uplift of around 15%, alongside an approximately 80% spike in trading volumes. The market's optimism surrounding KAS is further fueled by the anticipated integration with the OKX wallet and an expected $1 million airdrop, which could continue to stimulate investor interest.
In other cryptocurrency news, Avalanche (AVAX) has also made headlines with a significant surge of 66% this week. AVAX's rise comes on the heels of its inclusion in Singapore's Monetary Authority of Singapore (MAS) tokenization initiative, Project Guardian. Trading at $22.10, AVAX has experienced a monthly spike of 142.59%. This growth is partly attributed to J.P. Morgan's Onyx platform utilizing AVAX for asset management innovation under Project Guardian.
Meanwhile, Near Protocol (NEAR) has not been left behind in this bullish crypto climate, with a notable growth of 25% this week and a monthly rise of 82%. NEAR's partnership with Nym Technologies and achieving a market cap of $1,833,935,569 has played a pivotal role in its ascent.
In contrast to these gains, Bitcoin has faced a slight dip of 1.5% over the week but still shows an overall monthly increase of 28%. Ethereum has seen a decline of 4.9% yesterday and a weekly fall of 6.60%, trading at $1,970.23.
Investors are closely monitoring these developments as they reflect both the volatility and the potential within the cryptocurrency markets. The recent surges underline the dynamic nature of crypto assets and their sensitivity to market developments such as exchange listings and technological partnerships.
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