Stacks (STX), Optimism (OP), Kaspa (KAS) prime gainers as Bitcoin rallies

• Stacks (STX) worth was up 25% as Bitcoin (BTC) broke above $28k for the primary time in weeks.
• Optimism (OP) and Kaspa (KAS) additionally gained double-digits.
• The tokens have been outperforming main altcoins similar to Ethereum, BNB and XRP.

As Bitcoin (BTC) broke to highs above $28k on Tuesday, a number of altcoins took cue to publish large strikes. 

High market cap cash like Ethereum (ETH), BNB (BNB), XRP (XRP) noticed modest features. Nevertheless, a couple of stand out performers on the day included Stacks (STX), Optimism (OP) and Kaspa (KAS).

Stacks worth

Stacks (STX) is outperforming friends in the present day with a 25% worth surge previously 24 hours. The coin’s stellar efficiency has just lately been right down to the rising reputation of Bitcoin Ordinals. With Bitcoin-based NFTs on the rise, the demand for STX has elevated.

The token traded to highs of $0.76 on Tuesday, up from lows of $0.58. The all-time excessive for Stacks is $3.39, which was reached in December 2021.

Optimism worth

Optimism (OP) worth was up 18% on the time of writing. The value of the L2 blockchain hit $1.34 on Tuesday afternoon after buying and selling at lows of $1.06 this week, with the features approaching the again of the broader market’s bounce.

Nevertheless, there was one other seemingly set off for OP worth – the launch of an Optimism-powered testnet on the BNB Chain. The opBNB testnet went reside on Binance’s BNB Chain on Monday and noticed the OP token start to soar amid elevated buying and selling volumes. Optimism worth hit its all-time excessive of $3.22 in February this yr.

Kaspa worth

Kaspa (KAS) additionally noticed double digit features on Tuesday to rank among the many greatest gainers within the prime 100 cash by market cap. With worth up greater than 11% on the day, KAS inched additional into bulls’ territory with over 40% upward motion previously week. 

KAS/USD was buying and selling at $0.022 on the time of writing, which is about 46% off the coin’s all-time excessive of $0.043 reached in April this yr.

Not too long ago, the Kaspa crew introduced a funding pool initiative that focused eventual KAS itemizing on the cryptocurrency trade Bitpanda. The L1 proof-of-work blockchain community implements the GHOST protocol, which has been cited within the whitepapers of Ethereum, Cardano and XRP.