Is Kaspa Crypto Dead Or Is It Making A Comeback?

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The most recent event involving Kaspa caused its price to increase by 0.84%, and it appears to be making a comeback to the cryptocurrency market. Kaspa is a community-driven blockchain designed to address the speed, scalability, and efficiency issues that have limited the adoption of popular networks like Bitcoin and Ethereum.

It uses a novel “blockDAG” approach that creates multiple blocks per second, allowing for instant transaction entry and quick confirmation time.

Kaspa’s latest development

On June 1st, CoinEx and Kaspa will host an Ask Me Anything (AMA) session. The cutting-edge BlockDAG technology that Kaspa has developed has the potential to change the cryptocurrency market. OneKey, a trusted open-source hardware wallet, now includes Kaspa for added security and ease of use.

The administration of KAS tokens is now both safe and simple for users. In light of this partnership, OneKey launched a special edition of their Kaspa Classic wallet.

Kaspa network’s major technical pruning upgrade

The Kaspa network has just finished a major update aimed at increasing transaction speeds while decreasing system requirements. The upgrade is a good step forward for the blockchain because it has the ability to increase the speed and security of all transactions.

Kaspa improvement proposal (KIP) 3

Shai Wyborski and Michael Sutton of the Kaspa network presented KIP 3, which adds a method called block sampling to improve mining efficiency and fairness. This proposal has three major goals: to improve the calculation of difficulty levels, to improve network performance, and to improve the mining experience for all miners.

A cool quote from #Kaspa Dev @MichaelSuttonIL about #RUST development and a great revelation of the growing talent being attracted to and making $kas one of the top coins in the #crypto-verse.

Rusty Kaspa Github: https://t.co/Pv8xAiSOKq #QOTD #PoW #Fast #Secure #Scalable pic.twitter.com/3nhFFlIL19

— Kaspa (@KaspaCurrency) June 1, 2023

Kaspa Price Analysis

According to the most recent information gathered, the cost of one Kaspa token, denoted by the symbol KAS, is currently $0.016, and it is ranked #218 among all cryptocurrencies. There are presently 18,870,881,184 Kaspa coins in circulation, with a market capitalization of $307,633,363.

The value of the cryptocurrency as of right now has climbed by 6.02% in the last 24 hours. When we compare the KAS’s market cap today to its market cap yesterday, we can see that the market cap has increased as well. Kaspa has gained 4.06% in the previous 7 days at a steady rate.

Kaspa investors are ecstatic about the return on investment they received this week as a result of this increase. KAS’s price has declined 33.34% in the last 30 days, reducing its prior value of $0.025803 by $0.00949.

The recent downturn indicates that Kaspa is currently in a trough. In the last 90 days, the price of Kaspa has risen by 35.52%, adding $0.004276 to its prior value of $0.012037.

Kaspa Price Prediction

Kaspa has dropped by -33.34% in the previous 30 days. As a result, we should expect a minor recovery in the approaching month. By the end of June, the value of Kaspa had risen by 111.82% to around $0.0343. All indicators are currently in the Bearish zone, and the fear & greed index shows 22.94 strong fears.

According to our predictions, now is not the time to sell Kaspa. Kaspa has been trading below the 200 simple moving average for the last 326 days, and the SMA has shown a Kaspa selling signal since December 31, 2023. Kaspa’s price is currently trading below its 50-day simple moving average (SMA), indicating a Sell signal.

All technical indicators indicate that the 200-day SMA will fall soon, and the price will reach $0.0137 by the end of December. Kaspa’s short-term 50-Day SMA is $0.0234 as of December 2023, 2024.

The momentum oscillator Relative Strength Index (RSI) is a prominent indicator that indicates if a cryptocurrency is oversold (below 30) or overbought (over 70). RSI is now residing at RSIValue. This means that the KAS market is in a NEUTRAL state.

Why is Kaspa needed?

Immediate ledger confirmation is required for a favorable customer and developer experience, web application connection, and speedy transaction settlement. Kaspa accomplishes this by minimizing transaction processing and customer experience latency caused by the consensus engine.

Furthermore, peripheral nodes help to reduce serious frontrunning and MEV dangers. As a result, we don’t have to worry about miners and trading bots trying to influence transactions to gain an unfair advantage over regular users. Sub-second block times enable pre-trade secrecy and stealth transactions, which protect customers from such manipulations.

Kaspa’s main goal is to become a transaction scheduling engine that can be used on a large scale and works quickly. Because of this, the base agreement will just keep track of how payments are going. On the other hand, the Layer Two processes will keep an eye on the shape’s more detailed and expressive parts.

The Kaspa network wants to naturally solve a problem that cryptocurrency projects and users are facing right now. It does this by providing a shared, optimized transaction sequencing layer, faster settlement times, and cloaking pre-trade transactions to protect against censoring miners and start an ecosystem of cross-silo communication.

How Kaspa set apart from other coin?

Kaspa is notable for its ability to support high block rates while maintaining the level of security afforded by proof-of-work setups. Kaspa’s mainnet currently operates at a block rate of one block per second. The core team’s future research and development efforts will be focused on increasing the system’s pace to its maximum—think 10 or even 100 blocks per second.

Kaspa also features a particular monetary technique based on the 12-note musical scale that cuts emissions in a geometric manner over time. See our guide to the best altcoins to buy here.

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