Kaspa's (KAS) market performance has been bloody over the past day. The KAS price dippee 4% on Wednesday, while its trading volume also saw a 10.44% decrease.
Kaspa (KAS) encountered selling pressure on Wednesday, with its price decreasing by 4% over the past 24 hours. At press time, KAS is trading at $0.1686, with a trading volume of $6,333,834.
According to crypto analyst Jim (@Cryptographur on X), most of this selling pressure is coming from short-term holders. These investors typically sell out of fear and have held the asset for less than six months.
On the other hand, long-term holders, who have held their positions for over six months, are showing more confidence, as they are in profit and less likely to sell.
This is evident in the chart posted by the analyst, which shows the percentage of KAS supply not moved for over three months. As the price fluctuates, many of these short-term holders begin selling, likely due to fear of further losses.
The chart also shows a interesting trend, where shorter-term holders sold a significant portion of their holdings in early 2023, which coincided with a period of increased price volatility. These investors, who may have panicked and sold quickly, contributed to the waves of sell pressure during this time.
However, long-term holders, as defined by the percentage of KAS supply that has not moved for over six months, are sticking to their positions confidently.
While the total percentage of supply held by these long-term investors has risen consistently, reaching over 40%, another observation is that the rate of increase seems to slow down as time goes on. This behavior suggests that long-term holders are accumulating and remaining inactive, which could bode well for Kaspa's (KAS) price in the long run.
以上是Kaspa (KAS) Price Faces Selling Pressure From Short-Term Holders, But Long-Term Holders Show Stronger Conviction的详细内容。更多信息请关注PHP中文网其他相关文章！
