Kaspa is experiencing a drop of over 12% amid declining trading volume. However, the upcoming TN10 upgrade may change the market dynamics.
Kaspa Faces Key Support Test as Selling Pressure Increases
The 4H Kaspa chart shows a persistent downtrend since early February. Failure to rise above $0.10 highlights bearish sentiment. Analyst Titan noted that a breach below the $0.07 level could lead to a decline to the next support at $0.05.
TN10 Upgrade Set to Boost Kaspa’s Transaction Speed
The upcoming TN10 upgrade could alter the landscape for Kaspa. 'Crescendo'—a forthcoming hard fork slated for March 4, 2025—will increase block speed to 10 blocks per second, making it 10 times faster. The Kaspa team is consulting with the community on the final rollout date.
Binance’s Kaspa Mining Rewards Distribution Could Influence Market Sentiment
Binance's distribution of Kaspa mining rewards on March 6 aligns with the TN10 upgrade and could draw more attention to the network. However, the market's response remains uncertain as participants weigh fundamental improvements against bearish conditions.
Kaspa stands at a crossroads: on the one hand, selling pressure and a declining price, on the other, an upcoming upgrade that could strengthen the network's position. The coming days will reveal whether these innovations can alter the current dynamics.
