Crypto News – Kaspa (KAS) was one of the altcoins that caught the attention of investors this week. The token hit an all-time high today, trading at $0.1451.
Kaspa Crypto Reached an All-Time High at $0.1451 Today
Despite this surge, at the time of writing, the KAS token is down 8.89% in the last 24 hours to $0.1186, according to CoinMarketCap data. However, despite this decline, the KAS price has managed to rise 29.57% in the last 7 days, increasing by over 90% on monthly charts and even 2161% this year compared to last year. Moreover, it has been recorded that the KAS price has increased by 1520% since January 2023 alone.
Kaspa’s current decline has also affected its market capitalization and trading volume. The market capitalization is down 7.75% to $2,629,275,673 at the time of writing. Trading volume is currently down 7.82% to $208,364,756, despite increasing by over 90% during the week.
Why Kaspa Crypto Soared and Can It Keep Rising?
The recent listing of KAS on the Korean exchange Coinone contributed significantly to the rise in price. The initiative gained more notoriety by hosting an AMA session in Japan. Community members might ask questions about the project and interact directly with team members. This may have increased confidence in the project.
It remains to be seen whether or not KAS continues to rally. A growth of roughly 1062% would result from the project reaching $1. Still, $1 might appear a bit improbable right now. Additionally, it is possible that KAS will make a correction in the near future. However, community members still maintain a goal of at least $0.10.
KAS and other altcoins might rise in tandem with Bitcoin (BTC) if it keeps rising. Recently, Bitcoin hit a new yearly high of more than $36,000. KAS might have reached its all-time high in part due to BTC’s new high set for 2023.