Jim recently pointed out that Kaspa ($KAS) has reached a fresh all-time high against Bitcoin, clocking in at 189 SATS and counting. This bullish momentum is not just a fluke; it’s part of a larger trend that Jim has been observing. He notes that $KAS is “doing its thing,” implying that the cryptocurrency is following a positive trajectory.
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Bitcoin 2010 vs Kaspa 2023: Striking Similarities
Drawing parallels between Bitcoin in 2010 and Kaspa in 2023, Jim observes that both cryptocurrencies exhibit an ascending channel in their price charts. Additionally, both Bitcoin and Kaspa have managed to stay above their respective 20/21-week moving averages (MAs), a strong indicator of bullish momentum.
Technological Advancements
Kaspa is not just another cryptocurrency; it’s a technological marvel, according to Jim. It is the first proof-of-work cryptocurrency to achieve a block rate of one block per second. This is not only a testament to its superior technology but also to its fair launch.
Kaspa’s Vision and Future Prospects
Jim elaborates that Kaspa is stateless money that can scale without requiring Layer 2 solutions, thereby fulfilling Satoshi Nakamoto’s original vision of decentralized P2P electronic cash. Once smart contracts are launched on Kaspa, it will be capable of hosting the world’s first decentralized, scalable economy on a proof-of-work blockchain.
Institutional Interest
Jim also speculates that large entities like Citi, BlackRock, and PayPal, who are making their foray into the crypto space, will likely be interested in building on top of Kaspa. This is because Kaspa allows for truly instant settlement, something that neither Bitcoin nor Ethereum can compete with at the base layer.
The Path to Top 10
In a recent update, Jim mentions that the path to the top 10 cryptocurrencies is steep and rocky for any coin. However, he believes that if any new coin has the potential to make it, Kaspa is the one with the “juice” to do so.
In summary, Jim, S𐤊i ₿um (@Cryptographur), a technical analysis expert, paints a very optimistic and promising picture for Kaspa ($KAS), both in terms of its current performance and its future prospects.
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