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Several altcoins made big moves after Bitcoin (BTC) broke above $28,000 on Tuesday.
Top-cap coins such as Ethereum (ETH), BNB (BNB), and XRP (XRP) saw a slight gain. However, the day’s standout performers included Stax (STX), Optimism (OP) and Caspa (KAS).
Stax (STX) now outperforms its peers with a 25% price increase over the past 24 hours. The excellent performance of this coin is due to the increasing popularity of Bitcoin ordinals in recent times. The rise of Bitcoin-based NFTs has increased the demand for STX.
The token traded from a low of $0.58 to a high of $0.76 on Tuesday. Stax’s all-time high was $3.39 in December 2021.
At the time of writing, Optimism (OP) prices were up 18%. After trading at a low of $1.06 this week, the price of the L2 blockchain reached $1.34 on Tuesday afternoon, rising after a market-wide rally.
But there was another possible trigger for the OP price. It is the launch of a testnet leveraging optimism on the BNB chain. The opBNB testnet went live on Binance’s BNB chain on Monday, and OP tokens began to surge as trading volumes increased. Optimistic stocks hit a record high of $3.22 in February.
Caspa (KAS) also posted a double-digit gain on Tuesday, ranking as one of the top 100 coins by market cap. The price rose more than 11% on the day, and KAS has gained more than 40% over the past week, edging closer to bullish territory.
KAS/USD is trading at $0.022 at the time of writing, about 46% off the all-time high of $0.043 set in April this year.
Recently, the Kaspa team announced a capital pool initiative targeting the eventual listing of KAS on cryptocurrency exchange Bitpanda. The L1 Proof-of-Work blockchain network implements his GHOST protocol cited in Ethereum, Cardano and XRP whitepapers.
