Kaspa ranks among top three PoW altcoins, issuing $360 mln in coins and showing record hashrate surge

Throughout 2024, Kaspa ascended to the top three of Proof-of-Work projects by market cap, releasing nearly $360 mln worth of cryptocurrency. Experts highlight the token’s volatile price, hitting $0.20 in August before a subsequent pullback. Still, network hashrate skyrocketed from 132 to 1,486 PH/s, marking more than a tenfold jump.

Developers attribute this surge to heightened miner interest, positioning Kaspa as a viable alternative after Bitcoin’s recent halving. Platform data shows KAS trading volume rose by 220% over the past six months, though the token is not yet listed on most major exchanges.

If the trend continues, Kaspa may attract another 15% influx of miners by 2025, especially with the possible introduction of dedicated ASIC hardware. Yet analysts caution that limited global liquidity could prompt rapid price corrections if market sentiment shifts.