The price of Kaspa cryptocurrency has risen by 15% over the past week, reaching around $0.1, alongside significant trading volume increases.
Price and Volume Growth
In the last 24 hours, Kaspa has seen a 30% increase in daily trading volume, exceeding $131 million. The current price of the token stands at $0.092. According to Coinglass data, open interest for KAS has risen by 2%, totaling $199 million, while derivatives volume surged by 49% to over $252 million.
Kaspa Technical Analysis
Although Kaspa has not spiked as much as some other top altcoins, its price remains above $0.09 after a recent rally. KAS trades above both the 50-day and 200-day simple moving averages, indicating a potential bullish continuation. The passing of key crypto regulatory bills in the U.S. and the overall market bullishness for digital assets could drive further gains for KAS.
Development of Play-to-Earn App
In the Kaspa ecosystem, there is growing excitement around PPKAS, which is the first play-to-earn web3 application. The project blends memecoin appeal with utility and community engagement, offering features like mini-games, virtual mining, and the 'Little Hero' NFT collection.
Thus, Kaspa shows positive trends in both pricing and trading volumes, bolstered by ecosystem developments and growing interest in new web3 applications.
