Altcoin Challenges Sluggish Market Ahead of New Token Standard Release Soars 25 This Week

As proof of its functionality, the first-layer altcoin has overcome the slump in the cryptocurrency market and surged 25% this week ahead of its upcoming protocol release.
Kaspa (KAS) self-proclaims as the “world’s fastest, open-source, decentralized, and fully scalable first-layer.” At the time of writing, its trading price is approximately $0.18, higher than the $0.144 seven days ago.
The cryptocurrency asset, ranked 27th by market capitalization, has also seen an increase of over 6.5% in the past 24 hours.
With the Kasplex protocol of the Kaspa ecosystem getting closer to its public beta launch on June 30th, KAS yields have been realized.
The Kasplex protocol plans to introduce the new KRC-20 token standard and support the creation and management of non-fungible tokens (NFTs) on the Kaspa network.
Explaining the Kasplex whitepaper,
“Unlike certain protocols that cause ‘UTXO inflation’ issues in Bitcoin, the guiding principle behind the protocol design is to avoid negative impacts on Kaspa. Kasplex offers a direct data insertion method, complemented by an open-source indexer and a set of APIs, enabling seamless interaction with the protocol.
By adopting Kasplex, developers, artists, and influencers can efficiently and securely create, manage, and transfer digital assets on the Kaspa network, fostering innovation and growth within the Kaspa network.”
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