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Why Kaspa (KAS) is Growing and What is The Price Prediction For 2024
12/29/2023

Why Kaspa (KAS) is Growing and What is The Price Prediction For 2024

12/29/2023
4,7

Kaspa (KAS) has surged over 10% in the past 24 hours, reaching $0.124646. Despite the general market downturn, KAS was among the altcoins that rose in price today.

Kaspa (KAS) crisis

This year, Kaspa caught the attention of investors and critics alike. In 2023, the market has seen a rapid growth of the coin, which couldn't be happier for the community. However, KAS has raised concerns among experts. And that's because the coin didn't have any standout characteristics that would quickly make it so popular.

Kaspa does not have smart contracts or a consensus mechanism. Although the developers subsequently announced the introduction of smart contracts, experts considered the move a huge challenge. In their opinion, Kaspa needs to deploy an L2 network to do so, which is inappropriate for this network given Kaspa's unique architecture.

Why Kaspa (KAS) is growing?

Kaspa has been showing positive results in recent months. This was generally due to the increased adoption of the coin: listings on major exchanges, collaborations with other projects, and upgrades. All of this has allowed KAS to soar 2500% over the course of the year.

KAS has continued to grow today despite the general decline in the cryptocurrency market. Perhaps it was the increased investor interest that allowed KAS to not only resist the current sentiment, but also grow in value.

Kaspa (KAS) forecast for 2024

The price of KAS has risen 10.67% in the last 24 hours to $0.124646 at the time of writing. The trading volume also increased by 65.69% to $53.97 million.

Source and Copyright © TradingView 

As more investors pay attention to Kaspa's innovative ecosystem, the coin's growth will continue in 2024. In addition, growth will be influenced by the Bitcoin halving that will occur in April 2024, as well as the Kaspa halving scheduled for August 2024. Another prerequisite for growth is a network upgrade that will increase the utility of the entire ecosystem. Developers plan to add smart contracts, PoS consensus mechanism and more. Experts suggest that by mid-2024, the price of KAS could be $0.28.

This is not a hundred percent guarantee of KAS future performance. The crypto market is very volatile and unpredictable, so remember the importance of doing your own analysis.

 


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