Kaspa, a cryptocurrency using the Proof-of-Work algorithm, is experiencing rapid growth. The upcoming launch of smart contracts on August 31 is garnering increasing attention from traders and investors.
Kaspa Smart Contract Launch
The Kaspa team officially announced the launch of smart contracts via the Casplex Layer 2 solution on July 21. This feature will allow developers to create decentralized applications on the Kaspa platform, including DeFi protocols and NFT platforms.
KAS Market and Technical Indicators
Currently, the KAS token has surged nearly 40% over the past week, reaching a high of $0.1153. Technical indicators confirm the bullish trend, with the Relative Strength Index at 79.56, indicating strong upward pressure. However, this also points to overbought conditions.
Growth Prospects for KAS
With investor interest rising and capital inflow increasing, Kaspa appears poised for heightened activity and potential price growth. A successful breakout above the $0.117 resistance could pave the way to targets of $0.13 and $0.16.
With the launch of smart contracts on the horizon, Kaspa shows significant growth in trader interest, potentially gearing up for increased market activity in the coming weeks.
