Kaspa’s $3 Dream: What’s Fueling the ‘Subsequent ETH’ Narrative After 32% Rally

Kaspa ($KAS), one of many few cryptocurrencies nonetheless working on a Proof-of-Work (PoW) consensus mechanism like Bitcoin, is defying crypto tendencies with a fiery 32% surge, clawing again from Q1’s loss.

Regardless of a minor 2.6% dip up to now 24 hours, Kaspa has gained roughly 32% over the past two weeks. The uptick coincides with a marked enhance in community exercise, drawing contemporary consideration from its neighborhood.

In response to CoinMarketCap’s Crypto Neighborhood Sentiment indicator, Kaspa ranks because the fourth most bullish cryptocurrency among the many prime 100, with over 93% of customers expressing constructive sentiment. This surpasses different well-known tokens resembling Pi Coin, $XRP, and $ONDO.

Can Kaspa 25x From Right here? Crescendo Improve and Whale Strikes Ignite Bullish Bets

After a comparatively quiet interval, Kaspa’s day by day transaction quantity sharply elevated, reaching practically 700,000 transactions in a single day.

This spike started shortly after the rollout of the Crescendo KIP-10 improve, which enormously improved the community’s efficiency by rising block manufacturing from 1 to 10 blocks per second.

Simply days earlier than the surge, the community dealt with round 100,000 day by day transactions. By Could 6, that determine had climbed to 677,477, and it has sustained development since.

The improve seems to have made the community sooner and extra environment friendly, contributing to broader consumer engagement.

Whale exercise has additionally proven indicators of stabilization. Since Could 12, instantly after the Crescendo replace, one pockets has collected 60 million $KAS tokens by constant inflows from the KuCoin trade.

This has prompted many crypto “HODLers” within the Kaspa neighborhood to consider that purchasing $KAS now’s like shopping for Ethereum at $40 again in 2017, with something below $3 per Kaspa seen as a discount.

In the meantime, the variety of long-term holders continues to rise. During the last three months, the variety of addresses within the prime 25% of $KAS holders has elevated by round 6,000, reaching roughly 179,000.

Kaspa Value Prediction: Can $KAS Break $0.12 and Goal the $0.14–$0.16 Vary?

Kaspa ($KAS/$USDT) is exhibiting indicators of a possible bullish reversal following a protracted downtrend that started in late 2024.

The asset is presently buying and selling at $0.1112 and is making an attempt to interrupt by a key resistance zone shaped by the Fibonacci fan ranges.

A possible double backside sample is seen on the chart, shaped by two rounded lows in March and April close to $0.065.

After breaking above the neckline at round $0.085, the token has gained power and is difficult a number of resistance ranges. The Fibonacci fan traces, which had beforehand acted as dynamic resistance throughout the downtrend, are actually being examined from above.

A decisive transfer past the gray and orange followers across the $0.115–$0.12 degree might open the door for an extra rally towards $0.14 and probably $0.16 if the momentum continues.

Supporting the bullish outlook, the MACD indicator has crossed into constructive territory. The MACD line (blue) is above the indicator line (orange), whereas the histogram prints inexperienced bars, suggesting a continuation of upward momentum.

This crossover occurred after a bullish divergence shaped throughout the April lows, additional reinforcing a shift in sentiment.

The submit Kaspa’s $3 Dream: What’s Fueling the ‘Subsequent ETH’ Narrative After 32% Rally appeared first on Cryptonews.