coinjournal.net
- Stacks ($STX) price was up 25% as Bitcoin ($BTC) broke above $28k for the first time in weeks.
- Optimism (OP) and Kaspa ($KAS) also gained double-digits.
- The tokens were outperforming major altcoins such as Ethereum, $BNB and $XRP.
As Bitcoin ($BTC) broke to highs above $28k on Tuesday, several altcoins took cue to post huge moves.
Top market cap coins like Ethereum (ETH), $BNB ($BNB), $XRP ($XRP) saw modest gains. However, a few stand out performers on the day included Stacks ($STX), Optimism (OP) and Kaspa ($KAS).
Stacks price
Stacks ($STX) is outperforming peers today with a 25% price surge in the past 24 hours. The coin’s stellar performance has recently been down to the growing popularity of Bitcoin Ordinals. With Bitcoin-based NFTs on the rise, the demand for $STX has increased.
The token traded to highs of $0.76 on Tuesday, up from lows of $0.58. The all-time high for Stacks is $3.39, which was reached in December 2021.
Optimism price
Optimism (OP) price was up 18% at the time of writing. The price of the L2 blockchain hit $1.34 on Tuesday afternoon after trading at lows of $1.06 this week, with the gains coming on the back of the broader market’s bounce.
However, there was another likely trigger for OP price – the launch of an Optimism-powered testnet on the $BNB Chain. The opBNB testnet went live on Binance’s $BNB Chain on Monday and saw the OP token begin to soar amid increased trading volumes. Optimism price hit its all-time high of $3.22 in February this year.
Kaspa price
Kaspa ($KAS) also saw double digit gains on Tuesday to rank among the biggest gainers in the top 100 coins by market cap. With price up more than 11% on the day, $KAS inched further into bulls’ territory with over 40% upward action in the past week.
$KAS/USD was trading at $0.022 at the time of writing, which is about 46% off the coin’s all-time high of $0.043 reached in April this year.
Recently, the Kaspa team announced a funding pool initiative that targeted eventual $KAS listing on the cryptocurrency exchange Bitpanda. The L1 proof-of-work blockchain network implements the GHOST protocol, which has been cited in the whitepapers of Ethereum, Cardano and $XRP.