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Kaspa Dominates With 20% Gains In 24h: Here’s Why KAS is Up


by Paigambar Mohan Raj
for Watcher.Guru
Kaspa Dominates With 20% Gains In 24h: Here’s Why KAS is Up

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Kaspa is currently one of the best-performing crypto assets, registering a 20.8% price rally in the last 24 hours, according to CoinGecko’s KAS data. KAS is also up by 43.3% over the last week, 20.6% in the 14-day charts, and 6.5% over the previous month. Despite the upswing, KAS’s price has dipped by 59% since November 2024. Let’s discuss why KAS’s price is up, and if the rally will continue over the coming days.

Kaspa price rally
Source: CoinGecko

What’s Behind Kaspa’s Price Rally? Can The Rally Sustain?

Kaspa (KAS) Surges 20%, Eyes Bullish Momentum In February
Source: Kaspa

According to Kaspa-focused X user “Kaspa Builders,” whales had been aggressively purchasing KAS during the market dip. The post notes, “While the market is shaking out weak hands, the top $KAS holders are quietly loading up millions of coins.

Whales buying Kaspa (KAS) amid the crash may have led to the massive price surge. Moreover, the larger crypto market also seems to be recovering from the recent market dip. Bitcoin (BTC) is on the verge of hitting $92,000, after its recent descent to $82,000. Investor sentiment is also improving amid bullish signals.

Kaspa’s (KAS) price rally may have been further propelled by improving macroeconomic conditions. The chances of another interest rate cut in December have significantly increased over the last few days. According to CME FedWatch, there is an 85% chance of a 25 basis point interest rate cut in December of this year. Moreover, there is a lot of talk about Federal Reserve Chair Jerome Powell being replaced by Kevin Hassett. Hassett has been quite vocal about wanting to lower interest rates further. Kaspa (KAS) and the larger crypto market could experience a massive price surge if the Federal Reserve rolls out another rate cut in 2025.

Also Read: S&P Correction Looms: Raymond James Says Market Could Fall 10%

However, there is always the chance that Kaspa (KAS) will face a correction over the coming days. The market could experience fresh volatility after the Thanksgiving holiday, which could lead to substantial price dips.

Read the article at Watcher.Guru

In This News

Coins

$ 69.76K

+1.07%

$ 0.0333

+3.46%

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In This News

Coins

$ 69.76K

+1.07%

$ 0.0333

+3.46%

Share:

Read More

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Kaspa Dominates With 20% Gains In 24h: Here’s Why KAS is Up


by Paigambar Mohan Raj
for Watcher.Guru
Kaspa Dominates With 20% Gains In 24h: Here’s Why KAS is Up

Share:

Kaspa is currently one of the best-performing crypto assets, registering a 20.8% price rally in the last 24 hours, according to CoinGecko’s KAS data. KAS is also up by 43.3% over the last week, 20.6% in the 14-day charts, and 6.5% over the previous month. Despite the upswing, KAS’s price has dipped by 59% since November 2024. Let’s discuss why KAS’s price is up, and if the rally will continue over the coming days.

Kaspa price rally
Source: CoinGecko

What’s Behind Kaspa’s Price Rally? Can The Rally Sustain?

Kaspa (KAS) Surges 20%, Eyes Bullish Momentum In February
Source: Kaspa

According to Kaspa-focused X user “Kaspa Builders,” whales had been aggressively purchasing KAS during the market dip. The post notes, “While the market is shaking out weak hands, the top $KAS holders are quietly loading up millions of coins.

Whales buying Kaspa (KAS) amid the crash may have led to the massive price surge. Moreover, the larger crypto market also seems to be recovering from the recent market dip. Bitcoin (BTC) is on the verge of hitting $92,000, after its recent descent to $82,000. Investor sentiment is also improving amid bullish signals.

Kaspa’s (KAS) price rally may have been further propelled by improving macroeconomic conditions. The chances of another interest rate cut in December have significantly increased over the last few days. According to CME FedWatch, there is an 85% chance of a 25 basis point interest rate cut in December of this year. Moreover, there is a lot of talk about Federal Reserve Chair Jerome Powell being replaced by Kevin Hassett. Hassett has been quite vocal about wanting to lower interest rates further. Kaspa (KAS) and the larger crypto market could experience a massive price surge if the Federal Reserve rolls out another rate cut in 2025.

Also Read: S&P Correction Looms: Raymond James Says Market Could Fall 10%

However, there is always the chance that Kaspa (KAS) will face a correction over the coming days. The market could experience fresh volatility after the Thanksgiving holiday, which could lead to substantial price dips.

Read the article at Watcher.Guru

In This News

Coins

$ 69.76K

+1.07%

$ 0.0333

+3.46%

Share:

In This News

Coins

$ 69.76K

+1.07%

$ 0.0333

+3.46%

Share:

Read More

PENGU rallies by 10% as NFT sales drop – Relief bounce or bull trap?

PENGU rallies by 10% as NFT sales drop – Relief bounce or bull trap?

Using the H4 chart's swing move lower in the first week of February, a set of retrace...
DASH price prediction – How a 15% hike might put it on course for $45!

DASH price prediction – How a 15% hike might put it on course for $45!

How did DASH rebound amid privacy coins' resurgence?