Is Kaspa’s Meteoric Rise Sustainable? Users Express Concerns Over Volatility

The fast-rising cryptocurrency Kaspa has achieved two major milestones, reaching a price of $0.05 and a $1 billion market capitalization, according to community members.

The achievement comes on the back of explosive growth in Kaspa’s hashrate, which measures the computational power of its blockchain network. Within just one month, Kaspa’s hashrate surged from 1.4 to 4.05, an increase of nearly 300%.

The rise in hashrate has spurred mixed reactions from the Kaspa community. Some see it as a sign of accelerating adoption that bodes well for future gains. However, others note that the rapid hashrate growth has negatively impacted individual miners’ profits as rewards per block have decreased.

Users on forums expressed excitement about Kaspa hitting the $0.05 mark and $1 billion market cap, with many anticipating further price increases due to Kaspa’s technological advantages like its GHOSTDAG protocol and blockDAG structure. However, some comments emphasized price volatility and the challenges of sustaining growth.

Kaspa, which fair launched in 2019 without pre-mining, is a proof-of-work cryptocurrency created by Yonatan Sompolinsky, a Harvard postdoc researcher. It currently has a circulating supply of 19.18 billion coins and a max supply of around 28.7 billion.

At the time of writing, Kaspa’s price is $0.04902976, up over 3% in the last 24 hours and nearly 35% in the past week, according to data sources. With a market cap of $981 million, Kaspa now joins the ranks of billion-dollar cryptocurrencies.

While further gains are possible given Kaspa’s innovative technology and growing community, its meteoric rise in recent days may not be sustainable in the long run. The cryptocurrency will need to navigate issues like dealing with diminished returns for miners and stabilizing its price volatility.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Sarah Wurfel
Sarah Wurfel

Sarah Wurfel works as a social media editor for CaptainAltcoin and specializes in the production of videos and video reports. She studied media and communication informatics. Sarah has been a big fan of the revolutionary potential of crypto currencies for years and accordingly also concentrated on the areas of IT security and cryptography in her studies.

1 Comment
  1. I love Kaspa, thx for atribut

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