👀 What is $KAS and the hype around it?

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BitDegree Insider
November 17, 2023

GM Readers. Your daily dose of BitDegree insights is ready 👀

Today’s selection:

  • 🧐 What the hell is $KAS?

  • 🔶 CZ among the US leaders?

  • 📰 Bite-Sized News

  • 👌 Meme of The Day

The recent recovery in Bitcoin's price was short-lived, as it dipped below the USD 36,000 level yesterday.

It's now attempting to climb back up, but trading volumes are down by about 7% from yesterday morning and roughly 25% from last week.

Trending

Kaspa $KAS & recent drivers?

This is what's going down:

First of all, Kaspa is a Layer-1 blockchain that operates on Proof of Work (PoW).

Since the Ethereum Merge, which marked the shift from PoW to PoS, there's been finally significant growth in the market.

Has anyone figured out where the rise of $KAS came from?

Connecting the dots...

After the merge, miners were left searching for new options.

Not everyone chose to sell their equipment. For these miners, it's more than just equipment - it's a part of their lifestyle.

As a result, players like $KAS stepped in to fill the gap left by Ethereum.

Key takeaways:

  • The hype around Kaspa is driven by still using Proof of Work, a method many other big cryptocurrencies, like Ethereum, are moving away from.

  • It especially became popular with miners who needed a new option after Ethereum changed its system.

Twitter

CZ among the US leaders?

FOX Business News messed up with a photo of Peng Zhao (Citadel Securities LLC.) and used a CZ photo instead.

Here is what CZ commented later on:

The intern probably just did a Google search, and thinks all Asians (especially those with similar names) look the same...😂

Do you believe the photo mix-up was a strategic PR move or merely an intern's error? 👀

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BITE-SIZED NEWS 🗞️

  1. 🇹🇭 Thai Crypto Venture. Binance and Gulf Energy are shaking up Thailand's crypto scene.

  2. 🔒 NY Tightens Crypto Grip. New rules are redefining investor protection in the digital currency world.

  3. 💃Crypto's Bullish Dance. Altcoins are soaring alongside Bitcoin.

Sounds interesting? Find more crypto news on our website:

Meme of the day 😂

And you can’t remember your private key either…

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Disclaimer: This newsletter is strictly educational. None of this information is intended to be financial advice. Always do your research and act responsibly with your profits.