Kaspa Remains Bearish, Does It Still Make Sense to Buy KAS Now?

The price of Kaspa’s native token KAS has been on a steady decline since the beginning of December 2023, dropping over 35% from $0.14 to $0.09 over the last 7-8 weeks. This prolonged bearish momentum has led many market analysts to speculate about Kaspa’s future price action and debate whether now is a good time to buy.

In a recent YouTube video titled “Kaspa Will List On Binance Soon! Breakout Imminent!!”, the host of the “Crypto Galaxy” channel provides an in-depth technical and fundamental analysis on Kaspa. He notes that while the price chart may look discouraging to some investors, there are several major upside catalysts on the horizon.

One of the biggest potential catalysts discussed is Kaspa’s imminent listing on top exchanges like Binance. The host explains that Kaspa is already listed on Binance and Kraken for futures trading, but a full spot listing, especially on Binance, could trigger a significant price pump. Historically, coin listings on Binance have resulted in rapid surges in trading volume and token value.

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Beyond exchange listings, the host is bullish on Kaspa for its long-term fundamentals. He praises its ability to solve the blockchain trilemma, making it the fastest proof-of-work layer one blockchain. Moreover, its fair launch structure benefits average retail traders rather than just venture capitalists. These attributes make the host believe Kaspa could become a top 3 cryptocurrency eventually.

Buying Opportunity

Given the host’s overwhelmingly bullish case for Kaspa’s future and its currently depressed prices, he strongly advocates buying KAS now in the $0.07 to $0.09 range. He notes that the last time Kaspa traded near its 100-day moving average line over 3-4 months ago proved to be an excellent buying zone for sizable gains this year.

So while Kaspa remains stuck in an extended bearish trend in the short-term, the host believes its strong fundamentals and upcoming catalysts make it a compelling buy with massive long-term upside, especially at current prices.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.