Kaspa (KAS) To Hit $3 In Explosive Bull Run, Expert Predicts 2650% Surge
February 07 2024 - 9:00PM
NEWSBTC
In the dynamic landscape of the cryptocurrency market, Kaspa (KAS)
has emerged as a strong contender in the altcoin race,
demonstrating notable growth and breaking through the $0.1109
barrier in the past 24 hours, representing a 10.5% increase in this
time frame. Interestingly, the bullish momentum for KAS might be
far from over as potential catalysts loom on the horizon. These
catalysts could propel the token to new all-time highs, surpassing
its previous peak of $0.1527. KAS Targets $2-$3 In Next Bull Run In
a recent post on X (formerly Twitter), crypto analyst Daan de Rover
expressed optimism for Kaspa’s future, offering compelling reasons
for the coin’s potential growth. One key factor is Kaspa’s
fair launch, meaning no KAS tokens were reserved for exchange
listings. This bullish characteristic becomes apparent as Kaspa is
not listed on major exchanges such as Binance, Coinbase, and
OKX. If these exchanges decide to list Kaspa, de Rover states
that they would need to acquire KAS tokens from the open market,
thereby increasing demand and liquidity. Given Kaspa’s
reputation and the hype surrounding the project, de Rover believes
that realistic price targets of $2 to $3 are achievable in the next
bull run, representing a 2650% increase from current price levels.
Related Reading: Cardano Price Stagnant At $0.48, But Charts Point
To Potential Upswing To understand de Rover’s thesis, in November
2023, NewsBTC reported the listing of KAS on Coinone, one of the
largest cryptocurrency exchanges in South Korea. Following
this listing, KAS experienced a remarkable surge, catapulting it
into the top 33 cryptocurrencies by market capitalization
(currently 38). In a matter of days, KAS skyrocketed from $0.05139
to its current all-time high of $0.1545 on November 19. This
surge represented a price increase of over 200%, underscoring the
significant boost that exchange listings can provide to the Kaspa
ecosystem and its price action. Should Kaspa secure listings on
major exchanges such as Binance and Coinbase, similar or greater
growth and market exposure can be expected, even greater than the
Coinone listing. Such a development would attract a wider range of
investors and contribute to the overall success of the coin, in
line with De Rover’s pricing analysis. A Closer Look At Kaspa
Kaspa has gained attention for utilizing the proof-of-work (PoW)
consensus mechanism and implementing a blockDAG (Block
Directed Acyclic Graph) architecture. This design allows for
the coexistence of multiple blocks in parallel, effectively
addressing the challenge of high orphan rates commonly associated
with traditional blockchains. Inspired by the foundational work of
Satoshi Nakamoto, Kaspa aims to preserve key aspects of the Bitcoin
(BTC) consensus. These include the PoW mining method, a
deflationary economic model, and decentralized decision-making
processes. By incorporating these fundamental principles,
Kaspa seeks to provide a robust and secure foundation for its
blockchain ecosystem. Related Reading: Ex-Ripple Director Heralds
‘Big News’ For XRP, Can Price Respond? At the core of Kaspa’s
functionality is the GHOSTDAG protocol, which enables parallel
blocks to exist and be ordered through consensus. This approach,
known as a blockDAG, ensures secure operation while maintaining
high block rates. Currently operating at one block per
second, Kaspa aims to achieve even higher rates, ranging from 10 to
100 blocks per second. Interestingly, this scalability
potential has set Kaspa apart from many other blockchain networks,
potentially catching the eye of investors, and may be one of the
reasons for its current price growth, which has seen KAS grow
continuously for over a year with a 1471% spike. Overall, by
addressing challenges associated with orphan rates and offering a
decentralized and community-focused approach, the network aims to
provide a solid foundation for a wide range of applications that
require secure blockchain solutions. Featured image from
Shutterstock, chart from TradingView.com
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