Why Is Kaspa’s KAS Price Up?

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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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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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.