The Kaspa (KAS) community is increasingly frustrated by the delay in spot listings on major exchanges such as Binance, Kraken, and OKX. Despite being listed on these platforms’ futures markets, Kaspa has yet to secure a spot listing.
In a recent analysis, Crypto ZX suggests that these exchanges might be waiting for the launch of Kaspa’s smart contracts before proceeding with a full listing. Additionally, regulatory concerns and other technical factors could also be contributing to the delay.
What you'll learn 👉
Strong Community Support Amid Delays
Despite the delay, Kaspa’s community continues to show strong support for the project. A recent X poll highlighted this sentiment, with many voters choosing Kaspa over established cryptos like Bitcoin and XRP.
This overwhelming backing highlights the robust community engagement surrounding Kaspa. Moreover, the analysis highlights that exchanges have listed Kaspa on futures platforms. This indicates their recognition of its potential, even though a spot listing remains elusive.
Bitcoin’s Influence and Kaspa’s Price Action
Kaspa’s recent price movements have been influenced by Bitcoin’s market behavior. As Bitcoin experienced a “complete fakeout” after retesting a key resistance level, its downward move led to a ripple effect across the crypto market, impacting Kaspa as well.
On the daily timeframe, Kaspa lost support at the 61.8% Fibonacci retracement level, dropping to 16.1 cents. The analysis emphasizes the importance of this level. He notes that if the current support fails, Kaspa could potentially retest the 15.8 cents area.
Despite this decline, Kaspa has maintained strong momentum, positioning itself as one of the best-performing assets over the past 12 to 18 months.
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Key Resistance Levels and Future Prospects
Kaspa’s price has repeatedly tested a critical resistance level at 17.3 cents over the past two weeks but has yet to break through it. According to Crypto ZX, a breakout above this level is essential for Kaspa to reach the next resistance at the 38.2% Fibonacci retracement level.
Historically, breaking such key resistances has led to sharp price increases, sometimes resulting in new all-time highs. The analysis suggests that if Kaspa can overcome this barrier, it could lead to price gains, potentially setting the stage for new highs.
However, the speaker stresses the importance of market conditions aligning to provide the necessary bullish momentum.
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