This Little Known Crypto Shoots Up Almost 90%
Investors on Kaspa have enjoyed gains as KAS, which is the protocol’s native crypto, has followed the general market trend upwards. In accordance CoinGeckohas the token increased by more than 4% in the last 24 hours.
The biggest gains were made during the two-week time frame, with an unprecedented increase of 117%, and during the last seven days which gave KAS an increase of almost 90%.
This is a result of the protocol’s commitment to get KAS listed on several stock exchanges, which increases the visibility of KAS for potential investors. The crypto currently has a market cap of $500 million.
Source: CoinMarketCap
Source: Coingecko
On-chain developments and major listings for Crypto
While the team behind Kaspa certainly has plans to improve the ecosystem, their current focus seems to be on getting KAS listed on reputable exchanges. Only yesterday was token listed on BYDFi, a US-based exchange, adding to a string of successful listings.
Earlier this week it was also listed on HotBit and Gate.iotwo recognized exchanges with a solid track record in the industry.
📈 NEW LIST ALERT! $CAS was just listed on @Hotbit_news
• KAS/USDThttps://t.co/POtCGBlGpX#CAS #kaspa #USDT pic.twitter.com/PWTkuWpl5w
— Kaspa (@KaspaCurrency) March 27, 2023
KAS is now available for deposits and withdrawals DigiFinex, another cryptocurrency exchange established in 2017. However, it wasn’t all sunshine and rainbows for the Kaspa community. Recently they were targeted by a phishing attack that aimed to trick users who wanted to use their online wallets.
According to Kaspa’s official Twitter account, fraudsters allegedly paid for ads with malicious URLs that imitated those used by Kaspa. However, this event also indicates that the protocol is gaining ground in the cryptocurrency industry, to the extent that hackers and other malicious actors have taken notice.
Withdrawals and deposits are now open for $CAS on @DigiFinex . #Kaspa #DigiFinex #trade
— Kaspa (@KaspaCurrency) March 24, 2023
Massive correction against KAS in the short term
After massive gains in the past few days, the bulls hit resistance at $0.0369 and were again exhausted. As a result, the coming week could bring pain for investors of the token, potentially causing it to fall towards $0.0248.
If this happens, investors and traders should focus on defending the $0.0248 support level, as a bearish breakout could send the bears back towards $0.0163.
Crypto total market cap currently at $1.14 trillion on the daily chart at TradingView.com
Monitoring the price movements of major cryptocurrencies can help investors and traders make informed decisions. In addition, on-chain and off-chain developments can increase the number of investors in the token, potentially driving prices higher.
However, it may take days or weeks before the latest quotations have a significant effect on KAS’s price. For now, investors and traders should brace themselves for possible roadblocks over the next few days.
– Featured image from Home Delivery Fireworks
