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Matt Lutch, a YouTuber with over 14,000 subscribers, recently shared his insights on Kaspa’s potential price trajectory in his latest video. He explores the possibility of KAS reaching $10 and what factors could drive such a surge.
In the video, Lutch reflects on his personal investment experience with Kaspa, revealing that he has been holding the cryptocurrency since July 2023. Over this period, he has witnessed significant price fluctuations, with Kaspa peaking near $0.2 before retreating to around $0.4. At the time of recording, the token was trading between $0.1 and $0.11.
Rather than making exaggerated predictions, Lutch takes a measured approach. He does not claim that Kaspa will hit $10 in the current bull run or even within the next couple of years. Instead, he outlines the conditions that would need to be met for Kaspa to eventually reach this milestone.
Breaking Down Kaspa’s Market Potential
To provide context, Lutch examines what a $10 valuation would mean for Kaspa.
Based on its current circulating supply, Kaspa would require a market capitalization of approximately $250 billion to achieve a $10 price per token. This would position it as the third-largest cryptocurrency by market cap, surpassing XRP and trailing only the top market leaders.
For comparison, Lutch looks at other successful layer-one cryptocurrencies. Solana, for example, currently trades around $180 with an $88 billion market cap and daily trading volumes exceeding $3.3 billion. In contrast, Kaspa’s daily trading volume is significantly lower, at approximately $62 million.
The Importance of a Strong Ecosystem
One of the key challenges Lutch highlights is the need for Kaspa to develop a robust ecosystem. He notes that leading layer-one blockchains like Solana, Sui, and Avalanche have built comprehensive ecosystems that include decentralized exchanges, meme coins, smart contracts, and stablecoins. These elements help attract users and drive trading activity.
While Kaspa has made strides in its development roadmap—introducing a new programming language, improving wallet compatibility, and integrating with Ledger and Tangem—it still lacks native smart contracts.
This absence has sparked debate within the community. Some skeptics doubt that native smart contracts will ever be implemented, while others argue that third-party solutions already exist. However, Lutch remains unconvinced by these alternatives.
Read Also: Is Mantra (OM) Price Peaking? Here’s What to Watch!
Realistic Price Targets for This Bull Run
Considering these factors, Lutch believes that Kaspa reaching $10 would require the development of a full-fledged ecosystem similar to Solana’s. As a result, he sees this as a goal for the next bull run at the earliest.
For the current market cycle, he sets more conservative expectations, suggesting that Kaspa could potentially achieve a 10x increase, bringing its price to $”
Source: captainaltcoin.com