Kaspa (KAS) had been the only coin with a use case that has an optimistic price action that has gains similar to or even better than most of the meme coins. As of writing, in the last 90 days (price % change on CoinMarketCap), KAS sparked in the top 5 alongside memecoins with massive gains.
Kaspa surged over 70% in the past 90 days. The price increased 11% this week and, as of writing, was trading at $0.1942 with a 5% surge.
@Fred Thiel, CEO of Marathon Digital Holdings, the biggest BTC miner in the world
talked optimistically about Kaspa (KAS). Since big names have started talking about the KAspa (KAS), it would get followed by more big names, which would eventually inject more optimism for the asset.
As per the shared video, the CEO mentioned that Kaspa has superior mining rewards compared to BTC, which is why MARA’s mining interest has been high lately. He added that KAS revenue per kWh stands at $1.00, which has a higher rate than BTC’s, which stands at $0.08.
The tweet came amid bullishnesss on the chart as it pierced the $0.1869 hurdle. The bullish suggests something revolutionary might be on the horizon. It might just be a few tweets away from a massive explosion in the price of KAS.
Marathon’s Impact on Kaspa (KAS) Mining
As per the analyst @ Crypto Proselyte’s optimistic tweet on X via his tweet post, he shared Kaspa’s growing fundamentals, by sharing an image of the peaked hashrate at 645 PH/s.
Over a month ago, MARA added KAS to their portfolio. This fueled the hashrate of the KAS, which has been roughly 100PH/s to date.
An analyst further stated that MARA had purchased 60 PH of mining machines, and other companies are following the lead in mining KAS. This growth in interest is likely due to its higher profitability compared to BTC.
As more players enter the mining market, the asset may see continued growth in network stability, and hashrate.
What Does Derivatives Data Say About KAS?
6.42% new contracts have been opened for the recent trend, which amounted to a total of $72.96 Million OI. Its derivatives volume amounted to a total of $33.01 Million.
The liquidation data highlights that more shorts are being pumped into the KAS market. In 24 hours, the shorts liquidated higher at $17.18K, whereas the longs stayed at 4.41K. The derivatives needled at continued price growth!
Kaspa (KAS) Price Analysis
KASPA has been in an uptrend from the second half of 2023, which is followed by the first half of 2024. It had been trading in an upward-broadening wedge.
From lower border support in May 2024, the price has headed for the upper border, and it has come halfway as of writing.
The 50-day and 200-day EMA bands support the run. Further surge would create a new ATH. RSI flashed at 65.14, and MACD formed a bullish cross.
The optimism seems strong in the asset and contingent on buyers’ activity. The price would fly ahead.
The resistance ahead could be the round numbers, such as $0.2200, and $0.2400, respectively, till it reaches the upper border. However, slippage from $0.1900 would lead towards the loss of gains, where bears would eye at $0.1869, and $0.1521 support levels, respectively.
 surges 70% in 90 days, backed by Marathon Digital's bullish stance and rising hashrate. Derivatives data signals further growth.){kind=link}