Kaspa Accumulates at $0.14, Analyst Suggests This Price Could Be the Lowest for KAS in the Current Range
Cryptocurrency analyst Cryptographur sheds light on the current state of Kaspa KAS in a recent tweet. As of the latest update, Kaspa KAS is holding strong at $0.11, marking the lower end of its current range.
Notably, the Kaspa has witnessed an unprecedented surge in hashrate, reaching all-time highs. This surge indicates a growing interest among miners who are increasingly joining the network to mine KAS.
Moreover, Cryptographur highlights a concerning trend in profitability. The rapid emission schedule, coupled with intensified competition among miners, has led to a decline in profitability.
The analyst emphasizes that the ultimate solution to this challenge lies in the price of KAS increasing. As miners face diminishing returns, a higher valuation of KAS becomes imperative for sustained mining activity. In another tweet, Cryptographur delves into a fractal update for KAS:
Accumulating at $0.14 – A Significant Milestone
In this latest analysis, Cryptographur notes that Kaspa KAS is now in the accumulation phase at $0.14. This level has been on the analyst’s radar since May 2023. The $0.14 mark is not seen as an exit point for KAS but rather as a milestone and a full Fibonacci extension. Cryptographur envisions this as a crucial step on the path to potentially achieving a Top 10 valuation.
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The analyst concludes with a reminder to investors: exercise caution and only invest what you can afford to lose. The insights shared are based on Cryptographur’s perspective and opinion.
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