The price of Kaspa (KAS) has continued its upward trajectory this week, surging 38% over the last four days. According to enthusiast @KASPAEnthusiast, this latest price action is just the beginning, with a new all-time high potentially on the horizon.
After breaking past the 13 cent mark earlier this week, KAS saw a period of consolidation on the 4-hour timeframe before decisively moving into the 0.137 range. Buoyed by this breakthrough, bulls now have their sights set on breaking into the 14 cent zone.
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Show more +Driving Forces Behind the Surge
Fundamentals and on-chain data may provide some clues behind Kaspa’s impressive price performance. As noted by @KASPAEnthusiast, Kaspa recently hit a new all-time high hashrate of 185.61 PH/s, indicating increased activity and interest around the network.
There is also optimism that the hashrate could push above 200 PH/s before the end of February. If achieved, this could serve as a validation of Kaspa’s value proposition and technical merits.
With positive sentiment propelling prices higher in the short-term, Kaspa holders will be monitoring whether this momentum can be sustained over the longer term. The coming days and weeks should provide more evidence one way or the other.
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