Despite the recent drop in Kaspa's price to $0.070, large holders have ramped up their purchases, demonstrating confidence in the cryptocurrency's long-term outlook.
Active Purchases by Large Wallets
In recent days, several large Kaspa wallets have increased their holdings. For instance, Wallet #5 acquired 3 million KAS, Wallet #7 added 2 million KAS, and Wallet #9 bought 3.4 million KAS. These actions indicate that large investors, rather than casual traders, are actively bolstering their investments even during price declines.
Optimistic Market Signals
Despite the price drop of KAS, positive funding rates indicate that traders are still betting on price increases. Statistics show that long positions outweigh shorts, indicating bullish activity is still present. Major holders are not panicking and are continuing to engage in trades.
Potential for Price Recovery
Kaspa is approaching an important trendline that has historically acted as a support level. Each time the price nears this line, a rebound is typically observed. Large investors, understanding this trend, view the current dip as an accumulation opportunity. If the price holds at this level, there is a potential for growth and the achievement of new historical highs.
Therefore, the current weakness in Kaspa's price may just be a temporary phenomenon before a potential rally. Wealthy holders are continuing to accumulate assets, which could signal bullish sentiment in the market.
