Bitcoin miner Marathon moves to Kaspa: KAS surges 10% in 24 hours

Marathon, the largest mining company, has joined the Kaspa mining race.has defied market trends and continued to sustain its bullish trend.

At press time, KAS was trading at $0.1757, which is a 10.31% surge in 24 hours. Equally, it has surged by 19.54% in the last seven days.Notably, the continued KAS sustained growth while other altcoins are experiencing a downside has captured the attention of the crypto community regarding the factors driving the surge.Marathon.“Today, we’re announcing that we have been actively mining Kaspa.

The announcement by Marathon is a big deal because the firm has only mined BTC since 2010. Thus, with the announcement, KAS becomes the only PoW it has mined besides BTC., the world-renowned crypto investor, announced he was buying KAS.

This indicates the prices have been rising, and the trend is likely to continue as there is still room before it reaches overbought territory.Equally, SMA shows a bullish momentum after falling below the prices on 21st June. Thus, for the last 5 days, KAS has experienced positive market sentiment and upward price movement.Looking further, our analysis of coinglass shows that Kaspa has experienced rising open interest in the last 7 days. In the last week, it has increased from $40.4M to $57.15M.

If the positive market sentiment is maintained, KAS prices will reach $0.192, which is the next resistance level. If KAS experiences a correction, the prices will decline to $0.158, which is the next critical support level.

Source: Digital Coin News (digitalcoinnews.net)

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