The price of Kaspa (KAS), a cryptocurrency focused on scalability and security, could be set for significant upside following recent developments impacting mining rewards.
According to Kaspa enthusiast Twitter account ‘@KaspaEnthusiast’, the rewards for mining KAS were reduced today around 5pm UTC from approximately 165 to 156 KAS per block.
This gradual reduction in mining rewards, implemented through minor monthly adjustments rather than a fixed halving schedule, aims to minimize price volatility.
Analyst ‘JACKIS’ noted on Twitter that KAS recently broke out above a large rising wedge pattern, which could lead to a retest of recent highs and further upside. He stated that “as long as [technical patterns] are respected” in a bullish environment, exponential returns could follow.
The combination of reduced mining rewards providing deflationary pressure on KAS, alongside bullish technical patterns, suggests the cryptocurrency’s price may be poised for gains in the near future. However, as with any cryptocurrency, prices remain highly volatile.
Kaspa spreads out its mining reward reductions over time, rather than drastic yearly halvings like Bitcoin. This gradual approach aims to minimize price volatility.
Kaspa is a proof-of-work cryptocurrency focused on scalability, security, and decentralization. Analysts like JACKIS see its technical setup favoring further upside after recent price strength.
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Meanwhile, the project continues development milestones like tweaking its mining rewards. Kaspa’s unique approach and technical outlook have sparked interest in the niche cryptocurrency.
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