Stacks (STX), Optimism (OP), and Kaspa (KAS) have experienced a rally as Bitcoin (BTC) soared above $28k for the first time in weeks. These tokens have outperformed major altcoins like Ethereum, BNB, and XRP, making them noteworthy investments in the current market.
Stacks (STX) has seen a remarkable 25% surge in its price over the past 24 hours. This growth can be attributed to the increasing popularity of Bitcoin Ordinals, which has led to a higher demand for STX. The token reached a high of $0.76, up from its previous low of $0.58. Its all-time high of $3.39 was achieved in December 2021.
Optimism (OP) has also experienced a price increase of 18%. The L2 blockchain token hit $1.34 on Tuesday, up from its recent low of $1.06. One likely reason for this surge is the launch of an Optimism-powered testnet on the BNB Chain. The opBNB testnet went live on Binance’s BNB Chain, resulting in increased trading volumes for OP. Its all-time high of $3.22 was reached in February this year.
Kaspa (KAS) has joined the rally with double-digit gains. Its price increased by over 11% on Tuesday, making it one of the biggest gainers among the top 100 coins by market cap. In the past week alone, KAS has experienced a 40% upward movement. Currently trading at $0.022, it is 46% off its all-time high of $0.043 reached in April this year.
The Kaspa team recently announced a funding pool initiative aimed at eventually listing KAS on the cryptocurrency exchange Bitpanda. This development has further contributed to the positive sentiment surrounding the token. Kaspa’s L1 proof-of-work blockchain network implements the GHOST protocol, which is mentioned in the whitepapers of Ethereum, Cardano, and XRP.
As Bitcoin continues to soar, investors should keep an eye on these tokens, as they have demonstrated strong growth potential. However, it is important to conduct thorough research and analysis before making any investment decisions.