Kaspa (KAS) has struggled to gain major traction in recent weeks, according to crypto trader Zach Humphries. The altcoin saw some positive momentum after breaking the 5-cent mark in October, but has since failed to see sustained growth. Still, the Kaspa team has managed another exchange listing that could reignite interest.
What you'll learn 👉
Lackluster Price Movement
In the latest video update, Humphries points out Kaspa’s generally sideways price action over trhe last few weeks of 2023. Besides the October spike past 5 cents, the coin had previously held stable around that same threshold.
“I started accumulating [Kaspa] around 4 cents,” the presenter remarked. Using the automated trading signals from his preferred indicator, XT Alga, Humphries opened an initial position. That trade has netted a 3x return so far.
However, beyond that brief breakout, Kaspa has shown little inclination to add to its 130-133% monthly gain. Without renewed momentum, traders may shift focus to other altcoins demonstrating more vigor.
Listing Secured on Margex
In spite of its uninspiring price activity, the Kaspa team has secured a place on another crypto exchange. Margex offers leveraged trading on certain digital assets, with up to 100x margins available.
Unlike most platforms, Margex does not mandate know-your-customer (KYC) checks. The exchange also enables its community members to request listings for new cryptocurrencies. Kaspa won inclusion after one such request.
The increased exposure could bring more traders into the Kaspa ecosystem. As Humphries stated, “Once [people] understand what Kaspa is…how similar it is design-wise to Bitcoin, I think that’s only going to help us…” Attracting Bitcoin loyalists could catalyze interest.
Countering Negative Sentiment
In Humphries’ assessment, prevailing sentiment falls short in evaluating Kaspa’s long-term prospectives. With strong fundamentals and real-world use potential, the presenter remains confident in Kaspa’s future outlook.
By combining scalability, security, decentralization, and affordability, Kaspa could fulfill a role as “digital cash for the world.” As the next crypto bull run unfolds, the chance to spotlight those capabilities could await.
Despite its stagnant price activity, Humphries expressed excitement “to see what [Kaspa] brings to the table.” The expanded reach and access offered by the Margex listing provides an opportunity to counter negative assumptions.
If Kaspa converts growing exchange presence into engagement with its feature set and network strengths, breakout potential still lurks. But it remains contingent on changing minds and overcoming doubts planted during its horizontal trading. The work continues to showcase Kaspa’s possibilities.
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