In a recent market evaluation by FireHustle, the expert delved into the current state of Kaspa, pinpointing its strengths and weaknesses and their potential impact on its market value. Additionally, FireHustle proposed a tactical approach for trading the cryptocurrency.
The expert commended Kaspa for its resilience during market downturns, noting it as a rare beacon of green in a sea of red. The subsequent sections elaborate on their insights.
Kaspa’s Technological Advancements and Challenges
Kaspa unveiled its KC20 Beta on June 30th, alongside the establishment of the Kaspa Ecosystem Foundation to propel growth via financial support. The Cplex Protocol was also introduced, enabling developers to craft and deploy tokens and projects under the new KC20 token standard.
The Cplex launch drew significant attention to Kaspa, leading to heightened confirmation times and delays due to the surge in activity. Nevertheless, the network’s security and consensus mechanisms remained robust.
Kaspa developer Michael Sutton acknowledged the congestion but assured that the core consensus engine and nodes operated flawlessly. He expressed confidence in swiftly addressing any issues that arose.
Continuous Technical Improvements
Kaspa has transitioned from Go to Rust programming language to enhance network speed and reliability. The Rust-based test net already achieves 10 blocks per second, with aspirations to scale to 100. As of May 30th, 90% of nodes have migrated to Rust, aiming for similar performance on the main net.
Kaspa’s ambition is to rank among the swiftest networks, boasting a scalable layer-one proof-of-work network. Its BlockDAG architecture improves upon traditional blockchain design, creating a network that supports quicker block times and increased transaction speeds.
Kaspa’s Future Outlook and Trading Tactics
Predicting Kaspa’s future trajectory is challenging due to market volatility. However, current trends indicate potential for growth.
Kaspa has yet to be listed on major exchanges such as Coinbase, Crypto.com, Binance, OKX, or Kraken. Securing spots on these platforms could significantly raise KAS’s profile and adoption rate.
Despite being in early development stages, there are plans to refine Kaspa’s technology based on beta feedback. The introduction of smart contracts and applications could elevate Kaspa’s status.
The analyst views the blockchain’s sentiment as bullish and believes its solid fundamentals and ongoing development bode well for its future.
The recommended trading strategy is to buy incrementally through dollar-cost averaging (DCA), given the current market dips and uncertainty regarding when it will bottom out.
AltFINS Kaspa Price Analysis
AltFINS’ analysis indicates that Kaspa is maintaining an uptrend after hitting a near-term target of $0.194. For investors seeking to capitalize on this trend, potential entry points include a break above $0.2 for continued growth or a pullback to the $0.15 support level for another swing trade opportunity.
Based on this analysis, Kaspa is exhibiting a strong uptrend in both the short and long term. Currently trading at $0.169, the next support levels are at $0.15 and $0.13, with resistance at $0.194. A breakthrough could signal a new all-time high at $0.24.
Join our thriving community by connecting with us on our FREE Telegram group for more insightful calls and market analysis.