Should You Buy the Kaspa Crypto? On-Chain Trading Signals for the KAS Token

12 Mar 2024

Did you know that the Kaspa crypto asset’s price increased by more than 35x in 2023? Despite that impressive performance, many crypto enthusiasts are calling for even higher $KAS prices. And given the past cycles, this bull run most likely still has a lot more upside to offer. Hence, a part of the expected inflowing capital could easily go Kaspa’s way. So, now may still be a good time to get better acquainted with this project and learn how to determine whether or not you should buy $KAS.

BlockchainBlockchain Development

In today’s article, you’ll get to first learn about the Kaspa crypto project. We’ll kick things off with the basics – explaining the gist of this proof-of-work (PoW) blockchain. Moreover, we’ll also cover the project’s core features, mining, and more. Essentially, you’ll find out what Kaspa is all about. 
However, as altcoin investors/traders, we are primarily interested in crypto tokens. Hence, we’ll take a closer at the KAS token. Thus, you’ll find out what is this cryptocurrency’s purpose and use cases. Furthermore, we’ll also go over the coin’s tokenomics.
After learning about the Kaspa crypto project and its KAS token, we’ll dive into the $KAS price action. We’ll cover the token’s entire price history and outline its key support and resistance levels. Aside from deploying the very basics of technical analysis (TA), you’ll also get to see what the most powerful crypto indicator – Money Line – has to say about $KAS. 
In addition, you’ll learn how Moralis Money’s cryptocurrency analysis sites can help you DYOR altcoin opportunities. Plus, we’ll tell you how its blockchain analytics tools can help you determine if and when it is a good time to buy (or sell) tokens. 
Nonetheless, for those of you who may decide to buy the KAS token, we’ll also explain where you can do that. You’ll even find out how to do so on EVM-compatible chains with a minimum fuss. 

What is the Kaspa Crypto Project?

The Kaspa crypto project is all about the Kaspa blockchain – a new proof-of-work decentralized network. Kaspa aims to position itself as a groundbreaking cryptocurrency project designed to redefine the capabilities of blockchain technology. The project’s official website claims that the Kaspa network offers unparalleled speed, scalability, and decentralization. 
Launched in November 2021, Kaspa introduces some innovative concepts. The most prominent ones are the blockDAG architecture and the GhostDAG/PHANTOM protocol. By deploying these concepts, the project aims to set the Kaspa chain apart in the competitive crypto landscape.
Kaspa’s vision extends beyond Nakamoto’s original protocol, aiming to create a service as fast as internet speed allows. Drawing inspiration from the tradeoff between gold and silver, Kaspa aspires to be the “silver” of the crypto world, offering a peer-to-peer electronic cash system while staying true to Bitcoin’s principles.
Furthermore, Kaspa identifies key challenges for the second decade of crypto, focusing on transaction inclusion speed and control over transaction ordering. The project aims to optimize user experience and integration with web applications by minimizing latency and enabling asynchronous block mining by peripheral nodes.

Kaspa Network Features

These are the core features that the Kaspa project outlines on its official website:

  • Fast and Scalable Transactions: Kaspa revolutionizes transaction speed with its blockDAG network, generating multiple blocks every second. The project claims to achieve instant confirmation, making it an ideal choice for everyday transactions with a commitment to transaction finality in just 10 seconds.
  • Efficient Proof-of-Work and Security: Utilizing the kHeavyHash algorithm, Kaspa combines an energy-efficient PoW mechanism with a high-throughput DAG structure. The result is a secure and decentralized network that minimizes energy consumption, distinguishing itself from other proof-of-work projects.
  • Scalability and BlockDAG Structure: Addressing the scalability challenge inherent in many blockchains, Kaspa’s blockDAG design enables the handling of large transaction volumes in short durations. The DAG structure processes blocks in parallel, creating a dynamic and scalable ecosystem.

Kaspa Crypto’s Core Technology

The project outlines the following concepts as the core technology of the Kaspa network:

  • GhostDAG and Nakamoto Consensus: Kaspa employs the GhostDAG/PHANTOM protocol, a scalable extension of Nakamoto Consensus. GhostDAG allows for the inclusion of “orphan” blocks, forming a blockDAG that significantly improves block rates while maintaining the security guarantees equivalent to Bitcoin.
  • Pruning for Efficiency: The project incorporates pruning to reduce the size of the blockDAG, optimizing storage requirements for decentralized nodes. This unique pruning algorithm aims to resist attacks by ensuring data integrity and finality in the ledger.

Kaspa Mining

Kaspa prioritizes mining decentralization, fostering an environment where effective solo mining remains achievable even at lower hash rates. By deploying a fair launch with no pre-mine or pre-sales, Kaspa maintains a commitment to decentralization and community management.
Moreover, the project states that the mining history of Kaspa reflects its commitment to innovation. Initially mined using CPUs and GPUs, the introduction of FPGAs marked a note-worthy transition. On April 13th, 2023, the ASIC era commenced, further evolving the mining landscape.
Note: You can dive deeper into the ins and outs of the Kaspa crypto project via its official website (outlined above).

The KAS Token Closeup

The Kaspa (KAS) token is the native digital asset (cryptocurrency) of the Kaspa blockchain. $KAS serves as the fundamental unit of value within the ecosystem. Moreover, as a decentralized and open-source cryptocurrency, KAS plays a pivotal role in facilitating various functions within the Kaspa network.

Purpose of the Kaspa Crypto Coin

The primary purpose of the KAS token is to power the Kaspa blockchain. As such, it enables a range of activities that contribute to the network’s functionality, security, and overall sustainability. Furthermore, KAS serves as a utility token, embodying both a medium of exchange and a means to access and participate in the decentralized features of the Kaspa ecosystem.

Core Use Cases of the KAS Token

The core use cases of the Kaspa crypto coin can be split into the following five aspects: 

  • Transaction Fees: The Kaspa network users need KAS to pay for transaction fees on this blockchain. Every time users initiate transactions, a nominal fee is required in $KAS. This contributes to the network’s economic model and incentivizes miners to validate and confirm transactions.
  • Mining Rewards: The Kaspa miners earn KAS tokens as a reward for their contribution to securing and maintaining the blockchain. The block reward provides an incentive for miners to contribute their computational power to the network. This ensures the chain’s security and decentralized nature.
  • Governance and Decision-Making: KAS token holders have the right to actively participate in the governance and decision-making processes of the Kaspa ecosystem. The chain’s native coin grants users voting rights. As such, they have a say regarding the proposed protocol upgrades, network improvements, and other important decisions.
  • Economic Incentives: KAS is an integral component of the economic incentives designed to encourage users to actively engage with the Kaspa ecosystem. Whether through mining, staking, or participating in network governance, users are rewarded with KAS, promoting a dynamic and participatory community.
  • Access to Dapps: As the Kaspa network evolves, it is expected to host a variety of decentralized applications (dapps). And $KAS serves as the primary means of accessing and interacting with these dapps.

$KAS Tokenomics

The KAS token has a maximum total supply of 28.7 billion coins. To reach this cap, Kaspa follows a halving emission schedule, reducing monthly by a specific. The token’s emission schedule ensures a gradual and controlled release of new instances of KAS, contributing to long-term sustainability. Moreover, currently, Kaspa offers a block reward of 146.83 KAS, which maintains a circulating supply of 22.11 billion $KAS. 
Here’s a recap of the Kaspa coin’s tokenomics:

  • Token name: Kaspa
  • Symbol/ticker: $KAS
  • Token type: Native coin of the PoW Kaspa blockchain
  • Network: Kaspa
  • Addresses of the EVM-compatible versions of KAS (a.k.a. wKAS): 0x112b08621E27e10773ec95d250604a041f36C582 (Ethereum), 0x51e72dd1f2628295cc2ef931cb64fdbdc3a0c599 (BNB Chain), 0x3562ddf1f5ce2c02ef109e9d5a72e2fdb702711d (Polygon)
  • Maximum total supply: 28,700,000,000 $KAS 

The Kaspa Crypto Token’s Price Action

The above line charts on the regular and log scales include the entire Kaspa crypto’s price action so far. Just a glance at these charts shows you that the KAS token’s value has been in a clear uptrend. Sure, there were some pullbacks along the way; however, overall, the asset has been in a clear uptrend trajectory so far.
After the token’s fair launch on November 7, 2021, it took some time for the asset to start trading. Exchanges started to list the token in the Spring of 2022; however, it wasn’t until the Fall of that year that some larger exchanges showed interest in KAS. 
The earliest available data suggest that $KAS was initially trading around $0.0002 in May 2022. From there, the price nearly tripled by early June, reaching $0.00059. However, the $0.0006 level was too much of a resistance at the time and the KAS price turned downward. By July 22, 2022, $KAS again reached the $0.0002 region. 
But after that July low, the token started to gain some serious traction. So, on its second try, the KAS price easily broke above $0.0006, reaching $0.00087 by August 1. Then, the asset retested the $0.0006 level and continued its upward movement. 
The $KAS price jumped to $0.0032 by August 19 and took a short breather around that level, bouncing on top of $0.0021. However, by mid-September 2022, KAS reached a new height, touching the $0.005 level. From that resistance, the KAS price experienced a significant correction. It ended up finding support on top of $0.0015 on October 23. 
Over the upcoming month, the token’s value increased by more than 500%, reaching $0.0095 by November 28, 2022. After that peak, $KAS pulled back by 57%.

$KAS’s 36x Rally in 2023     

Following the above-mentioned correction in December 2022, KAS holders were in for an amazing year. After all, the coin’s price increased by more than 35x by November 19, 23. On that day, the $KAS price printed its current all-time high (ATH) at $0.15489. 
Of course, the path from $0.0043 (KAS’s price on January 7, 2023) to the token’s ATH wasn’t a direct line. Instead, there were several corrections along the way, one as large as 72%. In fact, those who bought $KAS after that large correction on May 23 or May 24, 2023, still had a chance to 13x their investment over the next 180 days.  
After setting its ATH, KAS experienced another correction. After losing roughly 38% of its value, the token found support on top of $0.095. However, at the time of writing, the KAS token price is already making its way back up, sitting around $0.12. 

TA & Money Line

The above daily $KAS chart on a logarithmic scale indicates all the key levels of support and resistance. As such, you can see that if the KAS price were to pull back a bit further down, the $0.0051 level is the most likely target. 
However, despite its already relatively large market cap (MC) of more than $2.6 billion, the coin’s price could easily go higher if the rest of the crypto market were to perform well. For instance, if crypto investors were to accept Kaspa’s “silver” narrative, $KAS may surpass Litecoin.
Moreover, according to the best crypto charting tool – Money Line, KAS is in a bullish trend on a weekly timeframe. However, on the daily scale, Mone Line is still bearish; though it already wicked into bullish territory:
 Note: To get your hands on the Money Line indicator, opt in for the Moralis Money Pro or Starter plan. And if you wish to learn more about this ultimate indicator, follow the “Money Line” link in the introduction of today’s article.  

Should I Buy the $KAS Token?

To answer the above question, you need to first consider your current financial situation and your risk aversion. If they allow you to invest in altcoins, then consider the details offered by the sections above. After all, the information obtained above will help you determine if you find Kaspa crypto at all interesting. If yes, then you need to DYOR Kaspa properly.
This is where the Moralis Money Kaspa ($KAS) token page enters the scene. It is important to note that for now, Moralis Money focuses on EVM-compatible chains. As such, that page holds on-chain data for the wrapped KAS (wKAS) that lives on Ethereum. 
However, the links that the page offers lead to Kaspa’s official outlets, allowing you to properly research the project. Moreover, the price of wKAS matches the price of KAS, so you can also use the “Price Chart” section. The latter allows you to view the asset’s live price and put it into a proper perspective.  
With that in mind, make sure to follow the above “$KAS” link or access the page via the interactive widget below. 

Where to Buy Kaspa Crypto?

If you decide that you want to add KAS to your portfolio, then you have several options. After all, as a large-market-cap cryptocurrency, $KAS is available on many exchanges. To see the full list of the markets that support KAS, visit the Kaspa official website and scroll down to the “Kaspa Exchanges” section on the homepage.
Moreover, that website also offers Topper’s on-ramping widget that allows you to buy the KAS token with fiat.
However, if you believe in a decentralized approach and do not want to deal with the Kaspa network and its Web3 wallets, there is a simpler path. This is where the wKAS comes into play. As such, you can invest in the Kaspa crypto using familiar networks and tools. And you can do so in a secure and user-friendly manner via the above-presented page – just hit the “Buy” button:

Should You Buy the Kaspa Crypto? On-Chain Trading Signals for the KAS Token – Key Takeaways

  • The Kaspa crypto project is all about creating a lean PoW peer-to-peer blockchain network. In many ways, Kaspa follows Bitcoin’s lead while aiming to ensure faster transaction times and low gas fees. However, the network isn’t nearly as decentralized as Bitcoin.
  • Anyone who can match the requirements can become a Kaspa miner to support the network and earn KAS in return.
  • The KAS token is the Kaspa network’s native coin. As such, it powers the network by incentivizing the miners and serves as the medium for paying the transaction fees. 
  • $KAS had an incredible run in 2023, increasing in value by more than 36x. 
  • If you find Kaspa interesting, make sure to use the Moralis Money $KAS token page to DYOR the project and its coin further.
  • In case you decide to buy $KAS, you have various options, including $wKAS. The latter enables you to invest in KAS by utilizing the EVM infrastructure. And if you decide to buy wKAS, you can do so via Moralis Money’s Kaspa page.

It’s up to you to decide whether investing in $KAS makes sense for you. However, it would be quite unreasonable to expect the Kaspa market cap to reach much higher than $25 billion in this cycle. That gives KAS the potential for another 10x. However, as you may know, many altcoin opportunities offer 50x-plus returns.
With that in mind, we encourage you to deploy Moralis Money’s crypto analysis tools to spot true gem tokens. After all, by using the Token Explorer crypto scanner, you can easily generate dynamic lists of alts with potential. 
Moreover, Token Explorer also offers some automation features that turn Moralis Money into the best crypto pump detector
So, if you wish to make the most of this ultimate crypto trading tool, watch the video below!

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