Matt Lutch, with over 14 thousand subscribers on YouTube, made a video to address how far Kaspa can go this run and the possibility of KAS spike to $10.
Lutch begins by sharing his personal investment journey with Kaspa, noting that he’s held it since July 2023. During this time, he’s seen Kaspa’s price fluctuate significantly, reaching almost $0.2 at its peak before dropping back down to around $0.4. At the time of his recording, Kaspa was trading between $0.1-$0.11.
The YouTuber is careful to set realistic expectations. He’s not predicting that Kaspa will hit $10 during the current bull run or even within the next couple of years. Instead, he’s exploring what would need to happen for Kaspa to eventually reach this milestone.
What you'll learn 👉
Understanding the Numbers for Kaspa
To put things in perspective, Lutch breaks down what a $10 price point would mean for Kaspa.
With its current circulating supply, Kaspa would need to reach a market capitalization of approximately $250 billion to hit $10 per token. This would make it the third-largest cryptocurrency by market cap based on current rankings, placing it ahead of XRP and just behind the market leaders.
For comparison, Lutch examines other successful layer-one cryptocurrencies. Solana, for instance, currently trades around $180 with an $88 billion market cap and daily trading volumes exceeding $3.3 billion. Meanwhile, Kaspa’s daily volume sits at a more modest $62 million.
Kaspa Ecosystem Challenge
Lutch identifies a critical factor in Kaspa’s potential growth: developing a comprehensive ecosystem. He points out that successful layer-one cryptocurrencies like Solana, Sui, and Avalanche all feature complete ecosystems.
These typically include decentralized exchanges, meme coins, smart contracts, and stablecoins – creating an environment that attracts users and generates substantial trading volume.
While Kaspa has made progress on its roadmap – implementing a new programming language, wallet compatibility for both hot and cold storage, and integration with Ledger and Tangem – it still lacks native smart contracts.
Lutch notes that this is a divisive point in the community, with skeptics doubting they’ll ever materialize and enthusiasts claiming they already exist through third parties (though Lutch dismisses these as inadequate).
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Realistic Expectations for Kaspa This Bull Run
Given these considerations, Lutch believes that reaching $10 will require a full ecosystem like Solana’s, making it a next-bull-run goal at the earliest. For the current cycle, he sets more conservative expectations, suggesting Kaspa could potentially achieve a 10x gain to reach $1.
This would place Kaspa at a $27 billion market cap – significant growth, but far more attainable than the $250 billion needed for $10.
Despite these limitations, Lutch remains bullish on Kaspa. He points out that it’s already listed on major exchanges like MEXC, KuCoin, and Kraken, though community members often speculate about potential listings on even larger platforms like Coinbase and Binance.
Wrapping up his analysis, Lutch advocates for a well-diversified cryptocurrency portfolio rather than going all-in on any single token. He suggests focusing on coins within the top 100 by market capitalization and emphasizes the importance of secure storage using cold wallets rather than leaving assets on exchanges.
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While Kaspa may not reach $10 in this bull run, Lutch considers it a promising investment for the current market cycle. With continued development of its ecosystem, particularly smart contracts, Kaspa could potentially reach greater heights in future bull markets.
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