Why Being Bearish on Kaspa (KAS) For Now Is a Wrong Move

The cryptocurrency market has endured a volatile couple of weeks, with some coins seeing slight declines. Kaspa (KAS) is no exception, having fallen from its local highs after a period of sideways trading. However, as crypto YouTuber “2Bit Crypto” argues, being overly bearish on KAS at this moment fails to account for the project’s promising fundamentals.

Launched in 2021, Kaspa showed impressive growth throughout much of 2022 and most of 2023. However, sentiment has cooled recently, with KAS declining over the past two weeks. At the time of 2Bit Crypto’s video, it was trading around 11 cents – down 3.5% daily but with a trading volume of $37.2 million.

Despite this comedown from its meteoric rise, Kaspa retains key strengths that position it for future success.

Growth Runway Remains

2Bit Crypto notes that while Kaspa is already listed on several exchanges, major platforms like Binance and Coinbase have yet to adopt KAS. Such premier listings would expose Kaspa to a far wider crypto audience and likely catalyze immense retail interest.

Kaspa has also seen enthusiastic community engagement in a relatively short time, demonstrated by recent blockchain forks like Carlson and Pirin. Although diverging from the original KAS chain, these variants evidence surging developer involvement in the Kaspa ecosystem after just two years of existence.

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With major exchange listings and further technological improvements on the horizon, Kaspa retains substantial headroom to expand despite its recent price declines.

Long-Term Focus Necessary

Rather than a get-rich-quick scheme, 2Bit Crypto frames KAS as a long-term crypto investment that could cement itself as a top-10 project one day.

By providing real-world utility like smart contracts and prioritizing decentralization, Kaspa sets itself apart from speculatory memecoins that have dominated the recent crypto bubble. While certainly more subdued presently, its strong foundations bode well for sustainable growth long after present market manias fade.

Considering these enduring strengths and future ambition, dismissing or betting against Kaspa at this still-early stage seems shortsighted amid temporary marketwide weakness. 2Bit Crypto suggests that while further volatility is expected, poised investors may come to view these periods as a gift in hindsight.

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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.

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