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.
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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.
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.
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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.
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
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