Kaspa Coin Price Prediction: KAS Outpacing ADA and ETH

Kaspa Coin Price Prediction:  Why KAS Outpacing ADA and ETH is a Sign of Massive Growth Ahead

11 December 2023

A new blockchain platform called Kaspa (KAS) has been making waves in the cryptocurrency market. In fact, KAS has been outpacing its larger competitors, Cardano (ADA) and Ethereum (ETH), in terms of historical price trajectory. 

Many analysts and traders have been making their Kaspa coin price prediction, with some forecasting a significant increase in the token’s value.

According to crypto analyst @Cryptographur, the price movement of KAS tokens has shown incredible momentum. In one of his recent tweets, he compared the current price action of KAS with that of ADA and ETH from their last cycle peaks. He noted that by the time ADA and ETH were at their current levels in 2021, Bitcoin (BTC) was already reaching its cycle peak.

Kaspa Coin Price Prediction

So, what will the Kaspa coin price prediction be?

This comparison with Bitcoin’s position in the last cycle shows that Kaspa is actually ahead of schedule compared to its competitors, ADA and ETH. This is a significant achievement, considering that BTC is yet to regain its last peak.

Moreover, Cardano‘s market cap history presents “an easier comparison” with Kaspa than Ethereum due to the similar token supplies of the two cryptocurrencies. 

Thus, according to the analyst, should KAS reach the valuations ADA reached at its last cycle peak, the token would be worth over $4.00. With KAS currently trading at $0.13, achieving a $4 price target would mean a return of over 3,000% from current prices.

However, it’s worth noting that this is not a guaranteed outcome, especially in the highly volatile world of cryptocurrency.

Why Cryptocurrency Market Is Down Today

The recent correction in the crypto market, which saw top coins like Bitcoin and Ethereum experience a massive selloff, has also affected KAS. The price of the token fell in tandem with the broader crypto market on Monday and is currently trading at the $0.12 mark. However, this was to be expected as the market had been rallying for some time now.

Why Cryptocurrency Market Is Down Today

Many analysts had predicted such a correction, stating that BTC price doubling in just two months without any pullbacks was not sustainable. Corrections and pullbacks are essential for confirming further rallies, especially during times of “extreme greed” and major macro events.

CoinGlass data shows that over $400 million were liquidated on December 11, with the largest single liquidation order worth $8.23 million.

Despite this correction, traders remain bullish on KAS. In fact, some experts see this as a perfect opportunity to enter the market at lower prices before another potential rally. With major macro events on the horizon, such as the U.S. Federal Reserve’s year-end interest rate decision, it’s likely that we will continue to see major fluctuations in the market.

Disclaimer: The information provided in this article is not financial advice and should not be treated as such.

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