In recent months, the price of the cryptocurrency Kaspa (KAS) has shown stable fluctuations, raising concerns among enthusiasts. However, the primary factor affecting the Kaspa market has been manipulation, recently highlighted by analyst Csm19XD.
Current Price Situation of Kaspa
Over the last 30 days, Kaspa has lost 30% of its value, now trading in the $0.10-$0.12 range. Analyst known as Csm19XD indicated that the price of Kaspa is being manipulated.
Explaining Manipulative Patterns
Price charts show a consistent downtrend in KAS throughout the latter half of 2024. High open interest in a falling market usually indicates more traders are betting on further price drops or long-term investors are buying to lower their average entry price.
Whale Game: Serious Consequences
On October 25th, $800,000 worth of long positions were liquidated across Binance, ByBit, and Huobi, accompanied by a 35% drop in open interest. This points to potential market manipulation by whales strategically shorting to trigger panic selling from smaller traders.
Given previous trends and manipulations, investors face questions of caution and vigilance. It is unlikely the situation will change soon while the market is controlled by large players.
