Why is Kaspa going up, can the KAS token maintain the bull trend?

KAS, the native cryptocurrency of Kaspa, has experienced a notable surge in its price, leaving investors, and enthusiasts curious about its future prospects. The question at the back of crypto traders is why Kaspa price is rising.

Well, the KAS price hike can be attributed to two significant factors: integrating KAS into the OKX Web Wallet and celebrating Kaspa’s anniversary.

Kaspa (KAS) price surge

Recently, the price of KAS has been on a bullish trend, defying broader market fluctuations. KAS is currently trading at $0.06492, with a 22.4% increase in value over the last 24 hours. Over the past week, it has witnessed substantial gains of 73.0%, and over the last month, it has surged by 95.4%.

Going by the above chart, Kaspa is among the very few tokens that are registering their all-time highs at this time. Most cryptocurrencies, are way below their all-time highs after they crashed during the recent crypto winter that saw crypto giants like Terra Luna and FTX crypto exchange collapse.

The KAS price chart portrays a very strong bullish confirmed by most technical indicators, including MACD and Moving averages. However, the bullish trend should be taken with a pinch of salt, especially since the RSI indicator is in the overbought region. At press time, the RSI was at 89.69 as can be seen in the chart below.

OKX Web Wallet integration

A significant contributor to the Kaspa (KAS) surge is the integration of KAS into the OKX Web Wallet.

This integration means that KAS tokens can now be securely stored in the OKX Web Wallet, providing users an additional storage option for their KAS holdings.

Kaspa’s anniversary

Another reason why Kaspa is rising is the fact that Kaspa recently celebrated its birthday on November 8, 2023, with a live Twitter Space discussion held in partnership with OKX.

The discussion covered various topics, including OKX web wallet integration and upcoming news related to Kaspa. Such events often serve as a platform for projects to announce important developments and updates, generating excitement within the community.

What lies ahead for the KAS token?

Besides the price hike, the future for KAS remains speculative but promising.

It’s expected that with OKX’s integration of the Kaspa BlockDAG, KAS may soon be listed on additional centralized exchanges (CEXs), making it more accessible to a broader audience. This move could further boost the token’s liquidity and visibility.

Additionally, there is speculation about potential developments related to non-fungible tokens (NFTs) within the Kaspa ecosystem. While this remains speculative, NFTs have been a significant trend in the cryptocurrency space, and their integration could open up new opportunities for Kaspa and KAS.