P.S. "While" is a time-related word implying factor X is affecting a dynamic system over time.
this statement is inaccurate because "while" as a conjunction has more than one meaning.
1. during the time that; at the same time as.
"nothing much changed while he was away"
2. whereas (indicating a contrast).
"one person wants out, while the other wants the relationship to continue"
"while" is the correct word to use here.
However, a stickler for grammar might take exception to the use of a "dangling participle."
Thinking back many years to my PhD defense, I remember being savaged by one of the examiners (who was a very senior person in my field) for having several dangling participles in my dissertation, and I suspect he would rather wrote "while it increases"