- The Kaspa crypto has witnessed a huge surge in its trading volume in the last 24 hours.
- The KAS crypto has shown only 9 green days in the last 30 days.
Kaspa (KAS) is a PoW cryptocurrency implementing the GHOSTDAG protocol, forming a blockDAG for parallel block creation and instant transaction confirmation. Developed by Yonatan Sompolinsky, it offers high block rates while preserving security. With no pre-mining, it ensures fairness and supports privacy and scalability for everyday transactions.
The sentiment of the crypto is bullish, and the crypto’s fear and greed index indicates extreme greed, as per Coincodex. The volatility of the crypto is high, resulting in 9.21%.
The market cap dominance of the Kaspa token is 0.12%, and the market cap value is $3.15B, which declined by 7.6% in the last 24 hours. It makes KAS the 45th largest cryptocurrency in the global cryptocurrency market.
The trading volume of the Kaspa has further surged by 92.7% in the last 24 hours, resulting in a traded value of $130.745M. This further results in a volume/market cap ratio of 4.11%, indicating medium crypto liquidity.
The all-time high price recorded for the KAS crypto is $0.1894, achieved a month ago, and currently, Kaspa is trading 28.9% below the ATH. Also, the all-time low price for the crypto was recorded on June 01, 2022. The all-time low price hit by the crypto was $0.0001699, and the price has increased by 79120% since then.
Kaspa Token Derivatives Data Analysis
The derivatives volume of the crypto has also witnessed a considerable surge, as visible on the charts. Also, the volume of crypto has increased by 154% in just the last 24 hours, resulting in a traded value of $87.21M.
The open interest has advanced by 6%, and the crypto has witnessed a substantial long liquidation of $179.11K. Also, the short liquidation for the crypto is worth $3.47K, which indicates profit booking of longs in crypto.
Kaspa Token Supply Overview
The circulating supply of the token is 23.146B KAS, which is 80.65% of the maximum supply. The total supply of the crypto is 23.146B KAS, and the maximum supply is 28.7B KAS.
Moreover, the fully diluted market cap of the crypto is $3.886B, and there are a total of 4.4K holders for the token, as per Etherscan.io.
Social Dominance Vs Social Volume
The social volume on the Santiment charts can be seen declining, followed by a decline in the social dominance of the crypto. It shows that the crypto is not active on social media.
KAS Crypto Technical Analysis
The price of the KAS crypto has witnessed a huge advance of 200% since the breakout of the rising wedge pattern. Further, the price is currently taking a rest and is slowly declining towards lower levels, witnessing profit booking.
KAS/USD Chart by TradingView.com
The EMAs also indicate approaching weakness in the token’s price as the trading price has declined below the 50-day EMA and is slowly heading towards the 200-day EMA. Also, the EMAs are currently trading in a golden cross.
The MACD and the signal line overlap each other and have also declined below the zero level. The histograms formed on the chart are also uncertain, indicating further uncertainty in price.
The RSI has declined below the 50 level and is currently trading at 44.5. It has declined from the overbought zones, indicating a loss of bullish momentum in price.
Summary
Kaspa (KAS) cryptocurrency faces bearish sentiment despite recent high trading volumes. With only 9 green days in the last month, it struggles to sustain upward momentum. Technical analysis reveals profit booking and declining social activity, suggesting potential further decline. EMAs signal weakness, while MACD and RSI indicate bearish momentum.
Technical Levels:
- Support levels: $0.07550 and $0.09290
- Resistance levels: $0.15550 and $0.1900
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.