In the dynamic landscape of the cryptocurrency market, Kaspa (KAS) has emerged as a strong contender in the altcoin race and many crypto analysts have expressed optimism for Kaspa’s future, offering compelling reasons for the coin’s potential growth.
Kaspa (KAS) has advanced from $0.10 to $0.16 since November 04, 2024, and the current price stands at $0.125. Traders are closely watching if Kaspa can stabilize near key support points but it is important to say that Kaspa’s current decline reflects a blend of technical challenges, market conditions, and low buyer interest. So where is the price of Kaspa (KAS) going next, and what can we expect from the rest of November 2024?
Today, Crypto Lists will discuss Kaspa (KAS) price estimates from a technical and fundamental analysis perspective. Please note that there are also many other factors to consider when entering a position, such as your time horizon, willingness to risk, and how much margin you have if trading with leverage.
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KAS could be the next big thing
Kaspa (KAS) is a decentralized, open-source Layer-1 blockchain designed to address scalability while preserving decentralization and security, aiming to enhance the core features of Bitcoin. Often called “Bitcoin 2.0” or “the next Bitcoin,” Kaspa’s infrastructure supports rapid block generation and high transaction throughput, achieved through its unique GHOSTDAG protocol. This protocol lets Kaspa handle multiple blocks concurrently rather than sequentially, creating a blockchain that is both faster and more scalable, setting it apart as a promising player among modern blockchain technologies.
The founder of Kaspa is Yonatan Sompolinsky, a Ph.D. in Computer Science at Havard University and a member of the Maximal extractable value (MEV) research team. He was also included in creating Ethereum’s whitepaper and rumored to be in Ripple’s whitepaper as well. Sompolinsky had direct input in creating Ethereum’s technology design, having designed the GHOSTDAG protocol earlier. Interestingly, the founder’s 2013 paper on the GHOSTDAG protocol is cited in Ethereum’s whitepaper.
It is also important to mention that Kaspa’s development team includes skilled professionals like cryptography researcher Elichai Turkel, doctoral candidate Shai Wyborski, developers Ori Newman and Mike Zak, and Michael Sutton, who holds a Master’s in Computer Science. Each team member brings specialized expertise, contributing to both the initial implementation and ongoing evolution of the Kaspa blockchain. Their combined efforts are driving Kaspa’s technical advancements and long-term growth as a highly scalable, decentralized Layer-1 network.
Kaspa is very similar to the Bitcoin network in the way it’s structured but one major difference between both networks is that Kaspa solves the issue of scalability that continues to plague Bitcoin. This means that while both networks use a proof of work mechanism, Kaspa is able to carry out transactions at a faster rate as well as cheaper fees.
Cheaper and faster than Bitcoin
Kaspa is built to be faster and more cost-effective than Bitcoin, achieving transaction confirmation in an average of 10 seconds, with transactions visible on the network in just one second. This speed is a significant improvement over Bitcoin’s average 10-minute confirmation time, making Kaspa well-suited for quick, scalable transactions. This design enhances both usability and efficiency, especially in environments that require high throughput and low latency. Transaction fees on Kaspa cost less than a cent, while transaction fees on Bitcoin cost an average of $3.6.
When it comes to security, Kaspa did not just employ the same security principles and methodology as Bitcoin, it took it a step further as it replaced the SHA-256 PoW encryption with kHeavyHash, while inheriting all the security properties of SHA-256. Thus, its network is still secured by a robust network of decentralized volunteers (miners) who validate and sign transactions just like Bitcoin. KAS coin is the native token of the Kaspa blockchain, whose main objective is to power the whole network. It is used to pay for transaction fees and other forms of developer’s fees, and it is also used as an incentive to reward miners. Its block rates are rapid and promise swift rewards, as well as offering profitable mining with lower hash rate requirements compared to Bitcoin.
Kaspa’s native cryptocurrency, KAS, has a max total supply of 28.7 billion coins, all of which are mined directly on the blockchain—none were pre-mined. Currently, about 25 billion KAS are in circulation, with the remainder to be gradually mined. Based on Kaspa’s current halving schedule, the final KAS coin is expected to be mined by 2037, marking the completion of its issuance.
Technical analysis for Kaspa (KAS)
Kaspa (KAS) has advanced from $0.10 to $0.16 since November 04, 2024, and the current price stands at $0.125. It’s important to note that its current decline is driven by a combination of technical hurdles, unfavorable market conditions, and a lack of strong buyer interest. Traders are closely monitoring whether Kaspa can maintain its position above the critical support level of $0.12. If Kaspa fails to hold this level, it could signal further downward pressure, while a strong defense of $0.12 might offer a chance for stabilization and recovery.
Important support & resistance levels for Kaspa (KAS)
On this chart (the period from March 2024), I marked important support and resistance levels that can help traders understand where the price could move. Kaspa (KAS) remains under pressure, but if the price advances above the resistance that stands at $0.14, the next target could be an important resistance level at $0.16. The current support level is $0.12, and if the price breaks this level, it would be a “SELL” signal, and we have the open way to $0.11. If the price drops below $0.10, which represents a very strong support level, the next target could be located around $0.08.
What speaks for the rise in the Kaspa (KAS) price
Kaspa has gained attention for its use of the proof-of-work (PoW) consensus mechanism combined with a blockDAG (Block Directed Acyclic Graph) architecture. This innovative design enables multiple blocks to exist in parallel, effectively overcoming the issue of high orphan rates typically seen in traditional blockchain systems. Kaspa’s mining model requires a lower hash rate compared to Bitcoin, making it more accessible to individual miners. This could increase network participation and demand for KAS, driving up its value. Fluctuations are still expected to be a common occurrence for this coin but if the price of KAS advances above $0.14, the next target could be resistance at $0.16.
What indicates the downfall of Kaspa (KAS)
A key factor behind Kaspa’s price struggles is weak or declining buyer interest. If demand for KAS doesn’t grow in line with its market supply, its price could fall, especially if broader market conditions are unfavorable. Kaspa faces competition from other Layer-1 blockchains, such as Bitcoin, Ethereum, and newer projects that offer similar scalability solutions. If Kaspa fails to differentiate itself effectively or capture enough market share, its price could be negatively impacted.
What do analysts and experts say?
Kaspa (KAS) has positioned itself as a strong competitor in the altcoin space and many crypto analysts are optimistic about its future, highlighting several compelling reasons that suggest the coin has significant growth potential. Kaspa’s blockDAG architecture enables high transaction throughput and faster block confirmations, making it an attractive solution for users and developers seeking scalability and speed which are key features for broader adoption in real-world applications. Kaspa’s mining model requires a lower hash rate compared to Bitcoin, making it more accessible to individual miners. This could increase network participation and demand for KAS, driving up its value. Crypto analysts also agree that a key factor behind Kaspa’s current price struggles is weak or declining buyer interest. If demand for KAS doesn’t grow in line with its market supply, its price could fall, especially if broader market conditions are unfavorable.
Disclaimer: Crypto is extremely volatile and not suitable for everyone to invest in. Never speculate with money that you cannot afford to lose. The information on this site is presented for educational purposes only and should not be construed as investment or financial advice.
