Two of the top performers in the crypto market recently are Kaspa (KAS) and Tornado Cash (TORN), both seeing increases of approximately 15%. This uptick comes as investors are gravitating towards established projects that focus on utility.
With a crucial FOMC meeting approaching, where crypto enthusiasts are hopeful for interest rate reductions, numerous reliable utility crypto projects are being actively purchased in anticipation of favorable market conditions.
Why Is Kaspa (KAS) Rising?
$KAS has been officially recognized in the CoinMarketCap “Top Made in America” assets category: Link — MMOStars (@MMOStars) March 11, 2025
Kaspa operates on a decentralized proof-of-work blockchain, leveraging the GHOSTDAG protocol to facilitate rapid and secure transactions.
Having achieved remarkable growth over the last two years, Kaspa’s market cap was valued at $200 million in early 2023 and surged to nearly $5 billion by July 2024. Currently, the market cap is approximately $1.7 billion, maintaining a significant return on investment.
With recent trading volumes nearing $200 million, many investors are returning to favor proven utility coins.
Kaspa is backed by a robust community that mirrors the enthusiasm of Cardano’s supporters. This community strength is a driving force behind KAS’s current price actions. Speculation around potential tax incentives from the Trump administration for cryptocurrencies made in America may further influence investor sentiment concerning KAS.
What’s Behind the Tornado Cash (TORN) Rally?
Freedom for Tornado Cash is on the horizon! We celebrate its potential removal from the sanctions list. Congratulations, @iampaulgrewal, for your impactful contributions! Link — MSA (@polpotcrypto) March 11, 2025
Recently, Tornado Cash has grabbed headlines due to legal challenges faced by two of its developers, Alexey Pertsev and Roman Storm, who are currently embroiled in legal battles related to the service’s functionality. Notably, the Ethereum Foundation, under the leadership of Vitalik Buterin, has pledged financial support to assist Pertsev.
The community perceives Tornado Cash primarily as a crucial privacy tool, and the developers should not be held accountable for its misuse by ill-intentioned parties.
Currently, TORN is experiencing a dramatic uptick, driven by increasing activity and market interest, reflecting a broader narrative shift in public opinion towards Tornado Cash and other privacy features within the cryptocurrency realm.
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