Kaspa (KAS) has surpassed prominent Layer 1 blockchains, such as Solana (SOL) and Ethereum (ETH), in a crucial on-chain metric lately. Despite this, the KAS price has remained largely flat.
Besides, this development has interested crypto enthusiasts, with tweets from notable figures such as Yoriichi Tsugikuni and Crypto Prose highlighting Kaspa’s unique position in the blockchain sector.
Kaspa Outpaces Solana and Ethereum
According to crypto analyst Yoriichi Tsugikuni, Kaspa’s KRC-20 transactions recently reached an all-time high, surpassing the transaction volumes of both Solana and Ethereum.
“ Proof of Work L1s can’t handle a high throughput & can’t scale, PoS FTW“Enter $KAS Kaspa is either proving that sacrificing your Security and Decentralization for scalability isn’t THE only way to achieving peak performance OR that there is ONE exception to that rule… pic.twitter.com/vMrPuWHvC5
— Yoriichi Tsugikuni (@YorichiiCrypto) September 18, 2024
Over 13 million transactions were processed on Kaspa, compared to 4 million on Solana and 1.1 million on Ethereum. This performance showcases Kaspa’s potential as a PoW blockchain that can achieve high throughput without sacrificing decentralization or security, unlike many PoS networks.
Tsugikuni’s analysis suggests that Kaspa could be challenging the common belief that scalability can only be achieved by compromising other essential blockchain elements. The network handled substantial transaction stress while maintaining stability, further highlighting its scalability.
KAS Price Stays Flat Despite Transaction Surge
While Kaspa’s transaction volume has surged, its price has remained relatively stable. Per CoinGecko at press time Kaspa trades at $0.1729. This value reflects a 0.58% increase over the past day and a 2.04% gain in the past week.
This price trend is not unusual for Kaspa, as it has demonstrated a tendency to move contrary to broader market movements. Historically, Kaspa has seen price increases during market downturns, a pattern that investors may be watching closely.
Despite the recent performance on-chain, the market appears to have reacted calmly to the developments. This price behavior suggests that Kaspa’s market dynamics may not immediately align with its technical achievements.
Celebrate Dogecoin and Make Big Gains with Doge2014!
Doge2014 raises 450K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Show less –
Read also: This XRP Chart Looks Like a ‘Time Bomb’ – Will Ripple’s Token Repeat 2017?
Strong Holder Base Adds Stability
Another key insight into Kaspa’s current status comes from Crypto Prose, who revealed that 7.04% of Kaspa’s supply has not been moved for over two years, reaching an all-time high.
Approximately 1.73 billion KAS tokens remain in the hands of holders unwilling to sell, even as the token inches closer to the $1 mark. This strong base of long-term holders could indicate confidence in Kaspa’s long-term potential, providing stability as the token develops.
The percentage of #Kaspa 's supply not moved over the last 2 years , has broken an ATH reaching 7.04%.In other words ~ 1.73 billion $KAS has not moved at all over the last 2 years and it's inreasing. These holders are not willing to sell soon , not even at 1$.What's your… pic.twitter.com/x8SeN2VBV4
— 𝐂𝐫𝐲𝐩𝐭𝐨 𝐏𝐫𝐨𝐬𝐞𝐥𝐲𝐭𝐞 (@Crypt0Proselyte) September 19, 2024
Kaspa’s recent achievements in transaction processing and its unique market behavior suggest a bright future for the blockchain. The network’s ability to handle high throughput without compromising security or decentralization sets it apart from other Layer 1 networks
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
The post Kaspa Smashes Solana and Ethereum in This On-Chain Metric, KAS Price Stays Flat appeared first on CaptainAltcoin.