Kaspa’s price has been struggling lately, and many are wondering what’s next for this cryptocurrency. With its recent fluctuations, investors and traders alike are looking for signs of a potential rebound or further decline. In this Kaspa price article, we’ll explore whether Kaspa has the momentum to push higher or if it might face more challenges ahead.
How has the Kaspa (KAS) Price Moved Recently?
KAS/USD Daily chart- TradingView
As of today, Kaspa is priced at $0.163184, with a 24-hour trading volume of $118.76 million, a market cap of $4.01 billion, and a market dominance of 0.20%. Over the past 24 hours, the KAS price has dropped by 3.19%.
Kaspa reached its peak on August 1, 2024, when it hit an all-time high of $0.208892. On the other hand, its lowest recorded price was $0.000171 on May 26, 2022. Since reaching its ATH, the lowest price Kaspa has seen was $0.127055 (cycle low), and the highest it has climbed since then was $0.179124 (cycle high). Currently, the sentiment around Kaspa’s price prediction is bearish, with the Fear & Greed Index indicating a score of 26 (Fear).
Kaspa’s circulating supply stands at 24.58 billion KAS out of a maximum supply of 28.70 billion KAS. The current yearly supply inflation rate is 20.28%, which means that 4.14 billion KAS have been created in the past year.
Will Kaspa Price Rise?
Kaspa’s price has the potential to rise, influenced by recent key developments that could play a crucial role in its trajectory. The listing on Kraken is a significant milestone that is likely to increase Kaspa’s market visibility and accessibility, potentially leading to a notable price surge.
Additionally, Binance Pool’s support for KAS mining, offering zero-fee pools, has already led to a price increase to above $0.17, reflecting strong market interest.
However, Kaspa’s current price is slightly below the midpoint of its upward channel, indicating some market hesitation. The sharp decline in early August, when KAS dropped to around $0.12 amid broader crypto market sell-offs, highlights the token’s vulnerability to market fluctuations.
Yet, Kaspa’s ability to bounce back and retest key price levels, particularly after the positive news from Binance, which resulted in a nearly 12% surge, demonstrates its resilience. If these positive trends continue and market conditions remain favorable, Kaspa could see a continued upward movement. However, this will depend on sustained momentum and broader market dynamics.
Kaspa Price Prediction: Will Kaspa Price Hit $0.25 Soon?
Kaspa’s price has shown remarkable growth, increasing by 366% over the past year and outperforming 90% of the top 100 crypto assets, including heavyweights like Bitcoin and Ethereum. This impressive performance, coupled with Kaspa trading above the 200-day simple moving average, suggests a strong underlying trend. However, there are factors that could both support and hinder its journey towards the $0.25 mark.
Despite its strong performance, Kaspa has experienced only 12 green days out of the last 30, indicating some volatility and market hesitation.
The medium liquidity relative to its market cap suggests that while there is decent trading activity, it may not be sufficient to drive a rapid price increase without significant new demand or positive news. Additionally, the yearly inflation rate of 20.28% could exert downward pressure on the price if the market cannot absorb the newly created supply.
Considering these factors, while Kaspa’s strong upward trend and recent achievements suggest it could approach $0.25, it may face resistance along the way. The path to $0.25 will likely depend on sustained positive developments, continued outperformance against other assets, and stable market conditions.
If Kaspa maintains its momentum and overcomes short-term volatility, reaching $0.25 is within the realm of possibility, but it may not happen immediately.