The cryptocurrency market is mostly in the red. The fall of bitcoin (BTC) near $90,000 during the current week has caused many altcoins (cryptocurrencies that are not bitcoin) to have much steeper price declines.
But, in this “blood-colored” context, some cryptocurrencies and tokens are standing out.
On a weekly level, that is, In the last 7 days, the Ripple cryptocurrency, XRP (XRP) with a 5.34% rise and Kaspa (KAS) with a 3.75% rise stand out.
XDC Network (XDC), Unus Sed Leo (LEO) and monero (XMR) complete the “top 5” of the cryptocurrencies with the highest weekly rise.
In the following image, provided by CoinMarketCap, you can see how the top positions of the cryptocurrency race are going at the time of this publication:
As for XRP, CriptoNoticias has extensively reported the reasons for its price rise. This cryptocurrency has been trending since Donald Trump won the presidential election in the United States.
The market is anticipating that the regulatory “persecution” against XRP and Ripple would end following the departure of Gary Gensler at the helm of the Securities and Exchange Commission (SEC).
Furthermore, the launch of the Ripple USD stablecoin (RLUSD) would benefit XRP, as the token was launched on Ethereum, but also on the XRP Ledger network (which uses XRP for the payment of commissions).
The following graph shows the XRP price over the last 7 days:
About kaspa, it can be said that it is one of the favorite coins of miners. The following image, provided by the portal 2minersshows how the hash rate (or hashrate) of this network has grown. Although it is not currently going through the best moment (it is not at an all-time high), organic and sustained growth is observed over time.
The upward trending hash rate is evidence of the increased security and robustness on the network, which tends to attract more investors.
Furthermore, the sustained growth in this metric can be interpreted as a sign of commitment and optimism on the part of the miners, who are betting on the future revaluation of the currency despite market fluctuations.
The following graph shows the KAS price for the last 7 days:
Another thing that may be driving kaspa’s price rise are some posts on Binance (the world’s largest cryptocurrency exchange).
While they do not directly mention KAS, these posts do make references to the “blockchain trilemma.” Some enthusiasts from Kaspa, who like to see signals where there are not necessarily any, assume that Binance would be about to add KAS to its list, based on these publications.
Let us remember (or inform, for those who did not know) that Kaspa claims to be able to solve this trilemma and, therefore, promises a secure, fast and decentralized ecosystem, without sacrificing any of these characteristics.
