JP Morgan Doubles Down on Blockchain, OKX Launches Polygon-based L2
U.S stocks are slightly higher from yesterday’s close despite increasing interest rates following mixed economic reports. Inflation figures have reinforced the encouraging trend in yesterday’s U.S CPI release, with the UK CPI and US PPI coming in better than expected. October’s PPI data fell 0.5% compared to estimates of +0.1%, a big miss that favors the soft landing camp. BTC has recovered from its post-CPI dip yesterday, rising 0.5% to $36.4k after briefly trading below $35k. ETH is down in the last day, hovering just above $2k after selling below for the first time since the BlackRock ETF news. KAS is outperforming among the top 100, reaching a new all-time high of ~$0.11, or $2.4bn by market cap. Kaspa, a DAG-based proof-of-work cryptocurrency, has been one of the top performers this year, rising nearly 20x YTD. While there have not been any recent technical developments besides wallet integrations, bullish investors are buying into KAS’s long-term vision of becoming the fastest and most decentralized scalable L1. Despite smart-contract functionality still being in development, there seem to be high expectations of Kaspa’s potential as the project closes in on cracking the top 30 most valuable networks.
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