Kaspa ($KAS) Gains Momentum on Exchanges as Tech Boosts Appeal

Kaspa ($KAS) has gained much attention in the blockchain space, especially after Grayscale unveiled its potential list of tokens for future investment products.

Grayscale might be adding Kaspa to its portfolio, according to a recent report by the digital asset manager. This move is part of Grayscale’s strategy to diversify its portfolio by focusing on mid- and small-cap cryptocurrencies, excluding Bitcoin and Ethereum.

The acquisition of Kaspa may also allow Greyscale to increase its reach to institutional investors who want to invest in other exciting blockchain projects.

Kaspa is attributed to utilizing the GhostDAG consensus algorithm where blocks are solved in parallel, enhancing the efficiency of the transaction speed on the network.

This digital structure makes the network most secure while providing higher transaction throughput than most existing blockchain networks. If incorporated in the portfolio of Grayscale, Kaspa could get more usage due to improved liquidity and trust.

However, Grayscale is unlikely to consider Kaspa for immediate addition because the firm evaluates multiple factors, including asset management, custody, and regulatory compliance.

Though the KAS token is yet to be listed, being under consideration is a major plus for the token and strengthens its position within the market.

Kaspa Technical Analysis Shows Bearish Momentum

The KAS price action reflects recent volatility, with the token currently priced at $0.128480, showing a 1.52% decrease. In the last few days, the price range was $0.127400 to $0.133001, indicating the volatility of the market sentiment.

Analyzing the technical factors, one can notice that the MACD and the RSI are signaling a bearish trend resulting from low buying pressure. The MACD line and signal line are negative and have values of -0.000243 and -0.007601, respectively an indicator of a downward movement.

The RSI currently stands at 36.45, hovering just above oversold levels, indicating that despite the ongoing bearish phase, a potential buying opportunity could be approaching. If buyers enter the market and drive the RSI above the midpoint, then this could be an indication of a price change for the token.

But analyst Travladd still sees the many long-term bullish trends on the chart for Kaspa. He notes that past retracements have led to new highs and highlights the short-term volatility but long-term potential of KAS price. Travladd notes that leading miners such as Marathon mine only bitcoin and Kaspa, an asset that gives it credibility.

The last three times $KAS touched this trendline, a new ATH was formed.

Kaspa Gains on Exchanges as Tech Boosts Appeal

Kaspa is listed and can be traded on several major centralized exchanges, though the most actively trading exchange is Gate.io. The KAS/USDT pair at Gate.io had a trading volume of $9,450,723 in the past 24 hours, proving that the pair is active.

KuCoin and Bybit, for instance, also list Kaspa, which makes it easier for the retail trader to access the token. Even so, Kaspa’s key technology remains a selling point, particularly as it targets becoming the fastest and most flexible PoW blockchain.

The platform enables instant transaction confirmations through the integration of GhostDAG technology, which boosts capacity without compromising security.

It is still planning to extend the current block rates even higher in the future and to attract DeFi projects and smart contracts. Traders and investors will be closely watching Grayscale’s decision, as it could be a turning point for the token’s future growth.

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