Home / Price Predictions / Kaspa Price Prediction 2024: KAS Price Analysis

Kaspa Price Prediction 2024: KAS Price Analysis

Last Updated June 27, 2024 9:16 AM
Valdrin Tahiri
Last Updated June 27, 2024 9:16 AM
By Valdrin Tahiri
Verified by Peter Henn

Key Takeaways

  • Kaspa is a blockchain that aims to provide both quick transaction speeds and security.
  • KAS trades very close to its all-time high which was reached in June 2024.
  • One Kaspa price prediction says KAS can increase up to $0.74 by next year.

The Kaspa blockchain is a relative newcomer to the crypto world. Conceived in 2021 and hitting the market in 2022, the platform and its native coin, KAS, have already started to make some crypto investors sit up and take notice.

KAS enjoyed a pretty strong 2023, with the news  that its blockchain was able to process 10 transactions per second and getting its browser wallet leading to it reaching a high in September before declining only to shoot up in late October and early November.

2024 has been even better with an increase of 60% that led to a new all-time high price of $0.191 on June 5. By June 27 2024, KAS was worth about $0.1547.

Kaspa did not respond to a request for comment.

Let’s take a look at our own Kaspa price prediction, made on June 27 2024. We’ll also examine the Kaspa price history, and we will talk a little about what Kaspa is and what it does.

Kaspa Price Prediction 

There are two methods used to create our Kaspa price predictions. More specifically predictions are created using fractals (mirroring movements and indicator readings) and the wave count.

The mean of the two predictions gives the average KAS price prediction, the more bullish one is used for the maximum price prediction while the more bearish one for the minimum.

Minimum Kaspa Price Prediction Average Kaspa Price Prediction Maximum Kaspa Price Prediction
2024 $0.38 $0.42 $0.46
2025 $0.18 $0.27 $0.36
2030 $1.80 $2.23 $2.66

Fractal Method

Since 2022, KAS has started three notable upward movements, all beginning with a weekly RSI bounce at 50 (green icon). Then, the movements ended after the weekly RSI generated bearish divergence (green). In these increases, this was always the second time the RSI went into overbought territory.

In April 2024, the weekly RSI bounced at 50, signaling that another similar upward movement has started. The RSI has not reached overbought territory, so going by the previous pattern it has a long way to go until the market reaches a cycle top.

The first increase lasted for 287 days and had a magnitude of 2,883%. The second one lasted for 273 days but was more than twice smaller at 1,339%.

Diminishing returns suggest the next one will be even smaller. Keeping the same ratio leads to a 621% that gives a high of $0.74 in February 2025. It also predicts a target of $0.46 at the end of 2024

KAS Long-Term Movement
KAS/USD Weekly Chart | Credit: Valdrin Tahiri/TradingView

It is likely the price will correct the entire upward movement after the high. A gradual decrease toward the closest support at $0.17 can last until September 2026, having 0.618 times the length of the entire upward movement. This leads to a price of $0.36 at the end of 2025.

Wave Count Method

The wave count prediction suggests that KAS started a five-wave upward movement in May 2023, and wave three has extended. If the count is accurate, KAS is in the fifth and final wave of this upward movement.

Since wave three extended, it is likely that waves one and five have the same ratio. If this is the case, KAS can reach a new all-time high of $0.44. This also coincides with the resistance trend line of an ascending parallel channel connecting waves two, three and four.

KAS Wave Count Prediction
KAS/USD Weekly Chart | Credit: Valdrin Tahiri/TradingView

If wave one has 1.618 times the length of wave one, the high will be reached in August 2024. Then, a lengthy correction that has the same duration as the upward movement and retraces all the way to the 0.618 Fibonacci retracement support level gives targets of $0.38 at the end of 2024 and $0.18 at the end of 2025.

This prediction is more speculative because it depends on the expected increase from another forecast, thus making it a secondary prediction.

KAS 2030 Prediction
KAS/USD Weekly Chart | Credit: Valdrin Tahiri/TradingView

Finally, we use the rate of increase during the past year to make a prediction for the end of 2030. However, since both our methods predict KAS will correct for the entirety of 2025 and 2026, the entire rate of increase until then is taken into account.

Doing so leads to a daily rate of increase of 0.66%. Projecting this increase until the end of 2030 leads to a new all-time high of $2.23. Adding and removing 20% to this target leads to our maximum and minimum price predictions of $2.66 and $1.80, respectively.

Kaspa Price Prediction for 2024

The fractal and wave count methods give a similar prediction for the end of 2024. The wave count has a target of $0.38 while the fractal method has a target of $0.46. In both cases, the price is likely to reach higher highs before this date.

Kaspa Price Prediction for 2025

The fractal method also gives a higher target for the end of 2025. In both predictions, KAS will be mired in a lengthy downward trend. The fractal method gives a target of $0.36 while the wave count one of $0.18.

Kaspa Price Prediction for 2030

The KAS price prediction for the end of 2030 uses the current rate of increase. A price between $1.80 and $2.66 is likely if a similar rate of increase continues for the foreseeable future.

KAS Price Analysis

The daily time frame KAS price chart shows an ongoing upward movement alongside an ascending support trend line since April 2024. During this time, it faces resistance at $0.185. Combined, the trend line and the resistance area create an ascending triangle, considered a bullish pattern.

On June 27, KAS reached the resistance of the triangle and made an unsuccessful breakout attempt. Nevertheless, the MACD and RSI readings are still bullish. The MACD has made a bullish cross and the RSI has moved above 50, both signs that the increase will continue.

KAS Price Chart
KAS/USD Daily Chart | Credit: Valdrin Tahiri/TradingView

So, while it is possible that KAS returns to validate the ascending support trend line once more, an eventual breakout from the triangle is likely. If that happens, the next target will be at $0.26, created by projecting the triangle’s height to the breakout level. This aligns with the bullish long-term price prediction.

Kaspa Performance Comparison

KAS is based on a Proof-of-Work blockchain, so let’s compare it with other projects in the same categories that have a similar market capitalization.

Current Price One Year Ago Price Change
Litecoin $70.54 $83.9 -20.2%
Monero $164.17 $168.14 -1.9%
Bitcoin Cash $370.34 $225.56 69.4%
Kaspa $0.173 $0.025 608%

The data reveals that KAS is by far and away the best performer from Proof-of-Work blockchain coins.

KAS Price History

Let’s now take a look at some of the Kaspa price history . While we should never take past performance as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a Kaspa price prediction. 

KAS first came onto the open market in the middle of 2022. At that time, the market was struggling with a downturn triggered by the collapse of the Terra (LUNA) blockchain. KASPA traded around that level until May 2023, before beginning a rapid upward movement that is still ongoing.

The price created several higher highs and culminated with a new all-time high of $0.19 in June 2024, and while it has fallen since, the bullish structure is still intact, suggesting the upward movement can continue soon. 

Despite making a lower high in 2024, KAS is attempting to break out from its main horizontal resistance area. So far, KAS has increased by 60% in 2024.

KAS Price History
KAS Price History | Credit: CoinGecko
Period Kaspa Price
Today (June 27, 2024) $0.1547
Last Week (June 20, 2024) $0.145
Last Month (May 27, 2024) $0.139
Three Months Ago (March 27, 2024) $0.137
Last Year (June 27, 2023) $0.025
Launch price (May 25, 2022) $0.0002
All-time high (June 5, 2024) $0.191
All-time low (May 26, 2022) $0.000171

Who Owns the Most Kaspa?

As of June 26, 2024, the five wallets with the most KASPA tokens  were:

  • qrelgny7sr3vahq69yykxx36m65gvmhryxrlwngfzgu8xkdslum2yxjp3ap8m. This wallet held 859,527,289 KAS, or 3.58% of the supply.
  • qpzpfwcsqsxhxwup26r55fd0ghqlhyugz8cp6y3wxuddc02vcxtjg75pspnwz. This wallet held 772,900,003 KAS, or 3.21% of the supply.
  • qpxtcucks59lvjdypd6mc93f8dutrpjnhekpk9ftg4h6jte6slaxygttyflqm. This wallet held 676,301,621 KAS, or 2.81% of the supply.
  • qzxrs8gxjgk2q84wlt3xfd057ntws73fptalhy84g85zqfu5lcemvpu04vj3w. This wallet held 548,318,331 KAS, or 2.28% of the supply.
  • qpap72xed702y4ahw537l3x63788nrh3ea5a0y06we236d5rth43wptqsv0ws. This wallet held 245,006,236 KAS, or 1.02% of the supply.

KAS Supply and Distribution

Supply and distribution Figures
Maximum supply 28,700,000,000
Circulating supply as of June 27, 2024 24,036,245,303 (84% of maximum supply)
Holder distribution as of June 27, 2024 Top 10 of owners hold 17% of maximum supply

From the Whitepaper

In its technical documentation, or whitepaper , Kaspa, formerly known as Phantom, says that it is designed to make sure blocks are mined properly.

It says: “The GHOSTDAG protocol has been implemented as the underlying technology of the Kaspa cryptocurrency. The Kaspa network allows us to produce statistics about the performance of GHOSTDAG in real world scenarios.”

Kaspa (KAS) Explained

There are, ultimately, two different types of blockchain. On one hand, there are Proof-of-Work (PoW) blockchains. These involve people verifying transactions and adding blocks to the blockchain by solving increasingly complex mathematical equations. On the other hand, Proof-of-Stake (PoS) allow the tokens holders verify transactions.

Both have their advantages and disadvantages. PoW chains can be somewhat slow while there can be some concerns about how secure PoS blockchains are.

Kaspa is a blockchain that is designed to give people the best of both worlds. It touts itself as being, in effect, a Proof-of-Work blockchain with Proof-of-Stake speed.

Its eponymous coin, also known by the ticker handle KAS supports the system. Kaspa should not be confused with the Casper (CAS) Web3 coin.

How Kaspa Works

While most PoW blockchains disregard blocks that are created at the same time as one another, Kaspa recognizes them, even if they have what the whitepaper calls “conflicting transactions”. It uses a program called GHOSTDAG to do this. 

Kaspa also issues 10 blocks per second. It is aiming to reach 100 blocks per second at some point in the future. It includes a feature called reachability. This allows people to work out what order blocks have been added. 

Kaspa also features data pruning. This allows people to, in effect, reduce the size of the blocks so they can create data sets. 

The system also plans to create support for layer 2 scaling solutions. These are platforms that take a transaction off the blockchain, carry it out elsewhere, and then put it back. This aims to save people time and money. 

The KAS coin itself rewards people who add blocks to the blockchain. People can also it can also buy, sell, and trade it on exchanges. 

Is Kaspa a Good Investment?

KAS has trended upward since 2023 and created several higher lows. While it fell after reaching its all-time high in 2024, the bullish structure is still intact. Additionally, the long-term price predictions suggest the upward movement is likely to continue to new highs.

Finally, KAS has been the best performer relative to similar cryptocurrencies. As a result, while price predictions can prove to be wrong, most signs point to the KAS trend being bullish in the long-term.

Will Kaspa go up or down?

The daily time frame chart shows that the short-term movement depends on whether the price breaks out above $0.18 or gets rejected. Either way, the trend remains bullish as long as KAS does not close below the ascending support trend line.

Should I invest in Kaspa?

Before you decide whether or not to invest in Kaspa, you will have to do your own research, not only on KAS, but on other, similar, coins and tokens such as Bitcoin Cash (BCH) and Monero (XMR). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Kaspa Attention Tracker

KASPA Google Search
Kaspa Google Search Volume | Credit: Google Trends

Here is a chart for Kaspa Google search volume for the past 90 days. This represents how many times the term “Kaspa” has been Googled over the previous 90 days. 

FAQs 

How many Kaspa are there?

As of June 27, 2024, there were about 24 billion KAS in circulation, representing 84% of the maximum supply. 

Will Kaspa reach $1?

It could do, but not for a while. Our fractal and wave count predictions both suggest KAS will reach a high below $1 in 2025. If the same rate of increase continue, KAS will increase above $1 sometime in 2028.

 

What is Kaspa used for?

The KAS coin rewards miners on the Kaspa blockchain. People can also buy, sell, and trade Kaspa on crypto exchanges.

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.