Top YouTuber Revises Kaspa Price Prediction – The Impact of Bitcoin on KAS Explained
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Aside from Helium and AAVE, no other altcoins are showing significant gains today, even though the market is performing fairly well this weekend.
In today’s video, the Crypto ZX Channel provided an update on Kaspa (KAS) and the broader cryptocurrency market. The host discussed recent market trends, Bitcoin dominance, and Kaspa’s price action, giving viewers a detailed overview of the current market landscape.
As of Sunday morning, the crypto market is experiencing some positive movement, with many coins up by 2-3%. Interestingly, Kaspa’s price appears to be lagging, down by 1.2%. Despite this minor decline, Kaspa’s market valuation remains strong, holding above the $4 billion mark. The 24-hour trading volume is around $42 million, indicating that even with the recent pullback, the overall market conditions for Kaspa remain stable.
The host particularly focused on Bitcoin’s performance, noting that its dominance index is on the rise and could soon reach a yearly high. This trend is expected to continue, potentially impacting the entire market, including Kaspa. When Bitcoin dominance increases, it usually signals that more capital is flowing into Bitcoin rather than altcoins like Kaspa.
Read also: How Many Kaspa (KAS) Tokens Do You Need to Become a Millionaire?
This shift can result in reduced liquidity and lower price movements for Kaspa and other altcoins as traders focus more on Bitcoin. Conversely, when Bitcoin dominance decreases, it suggests that traders and investors are reallocating funds from Bitcoin to altcoins, often leading to an “altcoin season” where coins like Kaspa may experience significant price increases.
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Source: captainaltcoin.com
Kaspa Price Analysis: Why KAS Could Present a 35% Trading Opportunity Right Now
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Kaspa (KAS) has seen a 1.5% increase today, positioning it as one of the few top altcoins currently “in the green” amidst a largely stagnant market. Although some experts anticipate an upcoming altseason, there has been little evidence of that so far.
Currently, the KAS price is hovering around $0.17, slightly below its all-time high of approximately $0.24, which was reached earlier this month.
While other cryptocurrencies are struggling, Kaspa continues to break all-time highs, signaling its strong potential.
Development and Innovation
In terms of development, Kaspa is making significant progress in simplifying blockchain interactions. The project is rolling out the Kaspa Name Service (KNS), aimed at converting complex blockchain addresses into more user-friendly names through .kas domain name resolution rules.
Huge thanks to everyone for the amazing interest and active discussions around KNS 𐤊
! It’s been awesome to see so much excitement within the Kaspa community. We truly appreciate your passion and enthusiasm.
A quick intro to the KNS team: We’ve been in the space since 2021 and…
— kns.kas (@knsdomain) August 16, 2024
According to altFINS, the KAS price remains in a long-term uptrend, currently trading within a Channel Up pattern. A pullback to the $0.15 support level, which aligns with the 200-day moving average, could present a swing trade opportunity. This setup offers a potential 35% upside to $0.19, with a recommended stop loss at $0.135.
Kaspa Chart Analysis and Key Levels
Examining the KAS chart reveals several critical support and resistance zones. Strong support levels are identified at $0.10, $0.125, and $0.15, with the latter currently serving as immediate support. On the upside, key resistance zones are located at $0.194 and $0.24.
Earlier this year, KAS formed a falling wedge pattern, which typically indicates a potential reversal. The subsequent breakout led to a significant upward move, with the price now trending within a rising channel. The upper boundary of this channel corresponds with the resistance zone at $0.194.
Source: captainaltcoin.com
Why a $3 Kaspa (KAS) Price Target Remains a Bearish Outlook
In a recent video, Crypto Chrys, a well-known analyst, discussed why Kaspa’s rise to $3 might still be seen as bearish. He backed up his perspective with what he considered to be factual insights rather than mere numbers.
Chrys emphasized his commitment to covering Kaspa, highlighting it as a viable alternative to Bitcoin.
Kaspa vs. Cardano and Bitcoin
Chrys drew comparisons between Kaspa and Cardano, pointing out that while Cardano had a robust community during 2020-2021, its fundamentals were not as strong. In contrast, he argued that Kaspa boasts a stronger community and superior fundamentals.
Kaspa is described as having fundamentals akin to Bitcoin, but even more advantageous. It is a proof-of-work project with no pre-mined coins and lacks venture capital backing, which Chrys believes makes it a fairer system.
Given these attributes, the analyst anticipates that the Kaspa community will strengthen as the bull market progresses, particularly by 2025.
Kaspa Price Outlook
The analyst predicts that the upcoming bull market will surpass the previous one by three to five times, driven by institutional participation.
He conducted a quick calculation, forecasting an $80 billion market cap for Kaspa in 2025, translating to $3 per coin.
The analyst believes that an $80 billion valuation is attainable for Kaspa, given its offerings. With increasing interest from retail investors and institutions, he expects significant growth.
If the $80 billion market cap is divided by Kaspa’s total supply of approximately 26 billion, it results in a price of about $3 per coin.
The speaker asserts that Kaspa is superior to Cardano and is the next best cryptocurrency after Bitcoin.
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Source: captainaltcoin.com
How Many Kaspa (KAS) Tokens Are Required to Achieve Millionaire Status?
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Crypto enthusiasts often ponder how many tokens they should gather in their chosen digital currency to potentially reach millionaire status. A recent video by Pumpolinsky delves into this topic for Kaspa (KAS), discussing the number of Kaspa tokens one might consider accumulating based on anticipated future trends.
Pumpolinsky notes that the definition of being “rich” can differ by country, but for this discussion, it is defined as having $1 million.
Accumulating 100,000 to 200,000 KAS Tokens
He stresses that his opinions are speculative and not financial advice. According to him, amassing between 100,000 to 200,000 Kaspa coins could be a pathway to becoming a millionaire.
The speaker mentions that while having 100,000 Kaspa (KAS) might suffice if sold at a market peak, precisely timing the market is difficult. Therefore, holding 200,000 coins might be a more secure strategy. He speculates that Kaspa could potentially reach values of $5 or even $10.
He advises against waiting for an ideal price point and suggests using dollar-cost averaging (DCA) as a strategy to exit the investment.
The speaker encourages holding onto Kaspa regardless of one’s current financial status, highlighting that even if the $1 million mark isn’t achieved, investors could still be in a better financial position than before.
Emphasizing Financial Discipline
Pumpolinsky urges viewers to make sacrifices for a year to enhance their financial standing. He recommends avoiding unnecessary expenditures and selling items that are not needed.
He discusses how money can solve problems and improve healthcare.
Kaspa’s Current Market Overview
At the time of the video, he notes that Kaspa is nearing $0.17 per coin, with a market cap exceeding $4 billion and a daily trading volume close to $100 million.
Pumpolinsky advises caution regarding short-term price movements and suggests keeping funds available for potential market corrections. He plans to purchase more if prices fall and enjoy the potential gains if prices rise.
The speaker also acknowledges the growing Kaspa community, with over 50,000 Discord members, 40,000 Telegram members, and more than 200,000 followers on the official Kaspa X account.
Pumpolinsky advises conducting thorough research on Kaspa before investing, as understanding the project can help investors withstand short-term price volatility.
He highlights the growth potential due to upcoming events like tier-one exchange listings, Kaspa’s first bull run, and the introduction of smart contracts and stablecoins on the network.
The post How Many Kaspa (KAS) Tokens Do You Need to Become a Millionaire? appeared first on CaptainAltcoin.
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Source: captainaltcoin.com
RollBlock Revenue Share Proposal Captivates Kaspa (KAS) and Bitcoin Cash (BCH) Investors Eyeing Potential 200x Returns
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The past month has seen fluctuations in the values of Kaspa and Bitcoin Cash, leading investors to explore alternative opportunities like Rollblock and its innovative DeFi casino.
This GambleFi ecosystem is gaining traction in the iGaming sector, with its value already doubling. Analysts suggest that $RBLK could emerge as a prominent altcoin by year’s end.
Kaspa Experiences a Slight Decline After Recent Gains
Kaspa has generally been on an upward path since its inception. However, in the last 30 days, this trend halted with a 3.44% decrease by late July. The second week of August brought a 2.84% increase.
Despite this, Kaspa investors remain cautious as the price recently dipped by 0.48%.
Bitcoin Cash Sees a Notable 7-Day Increase
Bitcoin Cash has also experienced volatility, with a 7.06% decline since July. Mid-month, it was trading at just $282.
Early August saw renewed investor confidence as Bitcoin Cash rose by 10.91%. This upward trend continues with a 0.36% increase in the past 24 hours.
Rollblock Surpasses $2.1 Million in Presale Funds
Rollblock is attracting attention from Kaspa and Bitcoin Cash investors due to its steady presale success. Outlets like CoinPedia and Yahoo! Finance highlight Rollblock’s momentum, evident as presale stage 5 reaches 21.48% sold.
Rollblock introduces two compelling features to the iGaming industry within its GambleFi ecosystem. Its DeFi casino offers over 150 games, including live dealer shows and slots. The absence of KYC requirements allows for quick registration and deposits via Rollblock’s secure payment system.
The appeal of $RBLK tokens lies in their staking rewards and stability. Rollblock employs a unique revenue-sharing model, using casino profits to repurchase $RBLK from the market. Half of these tokens are burned, maintaining scarcity and value.
The remaining tokens are distributed as dividends to staking holders, allowing investors to enjoy premium online casino experiences while earning weekly rewards. Over 7,500 investors have participated in the presale, with more joining daily.
Stage 5 is nearing the 25% sold threshold, with another price hike expected from $0.0205. $RBLK has already surged by 80% in the presale, with insiders predicting a potential 800% increase by the event’s conclusion.
Explore the Opportunities of the Rollblock (RBLK) Presale Today!
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The post RollBlock Revenue Share Proposal Intriguing Kaspa (KAS) and Bitcoin Cash (BCH) Holders Seeking Potential 200x Gains appeared first on CaptainAltcoin.
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Source: captainaltcoin.com
Four Bullish Indicators Suggest Kaspa (KAS) Price is Set to Surge
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Kaspa has emerged as a noteworthy cryptocurrency due to its distinctive attributes. Its investors remain confident in the crypto’s capabilities, and the token consistently delivers strong performance.
Freeman Finance and Crypto has identified three compelling reasons that suggest a potential surge in the price of KAS in the near future. This was detailed in a 12-minute video on their YouTube channel, which boasts over 6,000 subscribers.
The analyst views Kaspa’s current price of approximately 16 cents as a buying opportunity, especially when compared to its previous peak of 21 cents.
Kaspa’s market valuation is currently just under $4 billion. The creator is optimistic about its future, proposing that Kaspa could achieve a market cap ranging from $50 to $300 billion as it gains more traction and recognition.
4 Reasons Kaspa Price Will Surge Soon
The presenter elaborated on four reasons why he anticipates a significant increase in Kaspa’s price:
Exchange Listings and Accessibility
One of the key reasons for the anticipated price surge is the potential for increased availability on major exchanges. The creator notes that while Kaspa is not yet widely listed, Kraken has expressed interest in listing it, which could lead to broader adoption.
Kaspa’s advanced technology, particularly its proof-of-work protocol, presents challenges for exchanges in terms of auditing and node setup, causing delays in listings. However, the creator is confident that these challenges will be overcome, paving the way for Kaspa’s inclusion on major exchanges.
The creator references Nicholas Cysill, a former Binance research lead, who is optimistic about Kaspa. Cysill believes that despite current technical hurdles, Kaspa will eventually be listed on major exchanges.
Technological Advancements and Real-World Use Cases
The analyst also highlighted ongoing developments on Kaspa’s KRC20 protocol, which are expected to drive demand. Initial issues with fee structures during the beta launch have been resolved, and new projects are in development.
Kaspa is gaining attention for its potential in launching meme coins and tokenizing real-world assets. The video mentions projects like “Nacho the Cat” and other meme coins, as well as initiatives like “Fon,” which aims to tokenize real-world assets within the Kaspa ecosystem.
Peer-to-Peer Payments and Global Reach
The analyst claims that Kaspa is the ideal cryptocurrency for peer-to-peer payments due to its privacy, low fees, global reach, and security.
Kaspa is favorably compared to other cryptocurrencies like Bitcoin and Solana. While Bitcoin is secure, it is not suitable for small, everyday transactions due to high fees.
Solana, though fast and inexpensive, lacks the security of Kaspa, making Kaspa the superior choice for everyday transactions.
The video lists various merchants and platforms that have already begun accepting Kaspa, ranging from Forex trading platforms to dental services.
Increase in Kaspa’s KAS Accumulation
The number of wallets holding more than 1,000 KAS coins has seen a significant increase.
Additionally, there has been a substantial decline in the number of Kaspa tokens held on exchanges, indicating a growing trend of users storing their tokens in personal wallets.
These factors could reduce selling pressure and are positive indicators that the token is on an upward trajectory.
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Source: captainaltcoin.com