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 has enjoyed a pretty strong 2023 so far, with the news that its blockchain was able to process 10 transactions per second and getting its own browser wallet leading to it reaching an all-time high in August before declining over the following weeks.
The blockchain has reached its highest ever speeds recently, even if the price of KAS is yet to catch up.
Kaspa did not immediately respond to a request for comment.
But what is Kaspa (KAS)? How does Kaspa work? Let’s see what we can find out, and also take a look at some of the Kaspa Price Predictions that were being made as of September 18 2023.
Let’s examine some of the Kaspa price predictions being made on September 5 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
First, CoinCodex made a short-term Kaspa price prediction which said that the coin’s price would fluctuate over the coming weeks. It said it would fall to $0.0477 by September 23 before recovering to $0.0497 by October 18. The site’s technical analysis was bullish, with 24 indicators sending positive signals and just five making bearish ones.
DigitalCoinPrice said Kaspa would get to $0.10 this year. PricePrediction.net was more cautious, forecasting it to trade at an average of $0.055. Bitnation was more enthusiastic, saying KAS would reach $0.0702 this year.
DigitalCoinPrice, PricePrediction.net and Bitnation all thought Kaspa would reach about $0.17 in 2025.
Moving on to a more long-term Kaspa price prediction, PricePrediction suggested that it would be worth $0.74 in 2030. DigitalCoinPrice thought the coin would trade at $0.50 that year. Bitnation, meanwhile, had a KAS price prediction that said it would stand at around $0.42 at the start of the next decade.
Although the biggest news from the Kaspa blockchain is that it slumped from an all-time high, that isn’t the only thing to have happened.
In September, it was revealed that the platform has reached its highest ever hashrate.
The KAS coin has capitalized on reaching its highest-ever speeds. Not only that, but it has started work on a browser-based crypto wallet.
Earlier this year, it announced that it would become available on the Poolin crypto liquidity platform, which also saw a it get a price boost.
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 and Kaspa traded at around $0.0005. It hovered around that level for the next few months before slowing climbing later on in 2022, closing the year at $0.00528.
2023 saw the crypto market make something of a recovery, and KAS followed suit. A buoyant market saw the coin make a bull run, reaching a then-record price of $0.04238 on 4 April.
After that, the price fell down, reaching a low of $0.01204 on 24 May. It then looked like it was making a recovery, trading at above $0.015 in late May and early June. When the United States Securities and Exchange Commission (SEC) announced that it was suing the Binance and Coinbase exchanges, the market panicked. Kaspa slipped back down to a low of $0.0136 on 6 June.
There was a recovery after that, with the coin’s price boosted by the news that the blockchain had become quicker and, on August 6 Kaspa reached an all-time high of $0.05148.
In the month or so after that, KAS fell. This was down to a market crash caused by Elon Musk’s SpaceX selling millions of dollars worth of Bitcoin (BTC). On September 5, it fell to a low of $0.03313.
Since then, KAS has recovered and is threatening a new all-time high. On September 18 2023, it was worth about $0.04895.
At that time, there were about 20.69 billion KAS in circulation, representing the total supply. This gave the coin a market cap of about $1 billion, making it the 44th-largest crypto by that metric.
The price of KAS reached an all-time high on August 6. After that, it went on a downturn, losing around 40% of its value.
After reaching a low in late August, it then started a three wave pattern. When it sank to its September 5 low, a new uptrend started, breaking past the $0.038 mark and reaching current levels.
The Relative Strength Index (RSI) indicator suggests that the coin is overbought. This means we could be seeing the end of its bullish behavior, at least for the time being. If the RSI is right, a fall could be on the cards in the near future. If it falls soon – even if it reaches a new all-time high beforehand – it is likely a larger downtrend has started.
It is hard to tell. KAS has enjoyed a bit of a breakthrough in recent months, hitting faster than ever speeds and reaching new customers. The platform’s combination of speed and security is certainly a positive.
On the other hand, Kaspa is a relatively new blockchain. It will have to fight hard to distract attention from other, better-known, platforms. A lot will also depend on how the cryptocurrency market behaves as a whole.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in KAS.
No one can really tell right now. While the Kaspa crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
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 Ethereum (ETH) or Solana (SOL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
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.”
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 which 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.
American-based computer scientist Yonatan Sompolinsky founded Kaspa in 2021. It’s eponymous coin, also known by the ticker handle KAS supports the system.
Kaspa should not be confused with the Casper (CAS) Web3 coin.
While most PoW blockchains disregard blocks which 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 which 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.
On September 18 2023, there were 20.69 billion KAS in circulation, representing the total supply.
It could do. Bitnation, PricePrediction.net and and DigitalCoinPrice all say it will happen in 2025.
Keep in mind that the highest ever KAS price, which it reached in early August 2023, is $0.05148.
The KAS coin rewards miners on the Kaspa blockchain. People can also buy, sell, and trade Kaspa on crypto exchanges.
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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.