Alephium (ALPH) Price Pumps 70%, Crypto Analysts Call It ‘Next Kaspa’

We’ve been waiting for months now for some utility projects to start pumping in our portfolio. It was mostly memes until now.

Alephium (ALPH) price went on a massive rally in the last 24 hours, surging over 70% and reigniting traders’ attention.

In thisの時間, we will be discussing what Alephium is, the recent price action, and why some crypto analysts are calling it the “Next Kaspa.”

Alephium (ALPH) is a layer-one blockchain that aims to combine the best aspects of various crypto projects in the market. It boasts impressive features such as high transaction throughput, low energy consumption, and a user-friendly interface.

Recently, Alephium has been gaining traction due to its unique strengths and increasing adoption. One of the latest developments is the introduction of ASIC mining for the ALPH token, which might be a contributing factor to today's price surge.

With a market cap of over $150 million and a circulating supply of around 78 million ALPH tokens, the recent price increase has brought ALPH to trading above $1.8. At its peak in February, Alephium reached an all-time high of around $3.8.

After hitting its ATH, Alephium’s price went into a correction mode, following the trend of most other cryptocurrencies in the market. This period of decline brought ALPH to lows of around $0.70 in January.

Now, let's take a closer look at what Alephium has to offer and why it's catching the eye of crypto enthusiasts.

Alephium is a layer-one blockchain that combines advanced technology to achieve high scalability, security, decentralization, and energy efficiency. It's designed to overcome the limitations of traditional blockchains and cater to the evolving needs of the crypto space.

One of Alephium's key strengths is its BlockFlow algorithm, which partitions data into smaller subsets, enabling parallel processing of transactions. This technique enhances the blockchain's throughput, handling up to 10,000 transactions per second (TPS).

Alephium also utilizes a unique consensus mechanism called Proof-of-Less-Work (PoLW). This mechanism dynamically adjusts the mining difficulty based on real-time network conditions, reducing energy consumption compared to traditional Proof-of-Work (PoW) algorithms.

Furthermore, Alephium boasts its own NFT marketplace, DEADRARE, which serves as the first NFT marketplace on the Alephium blockchain. This platform provides a seamless experience for NFT enthusiasts to trade, showcase, and discover unique digital collectibles.

CaptainAltcoin's CBO Petar, a long-term Alephium holder, has consistently highlighted the token's potential, even amidst today's impressive price surge.

Despite the ALPH token's over 70% gain in the last 24 hours, Petar maintains that Alephium is still one of the most ‘undervalued’ altcoins in the market today.

In a recent tweet, Petar shared his thoughts on the token's price action and its standing in the crypto world.

“I've been saying for months $ALPH is actually the next #Kaspa…Even though it pumped 70%, this is still one of the most undervalued altcoins.”

While discussing Alephium's potential, it's essential to mention another blockchain that gained massive attention in 2023 – Kaspa. Both projects share similarities in terms of being new, offering high scalability, and targeting low energy consumption.

At the height of its price rally, Kaspa's market cap soared to over $4 billion, while Alephium's market cap currently stands at around $150 million. This disparity highlights the potential for substantial growth, considering Kaspa's incredible market performance.

However, it's crucial to note that both projects have their strengths and distinct approaches, and traders should conduct their research before making any investment decisions. Good luck!

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