Kaia price continued its robust rally on Friday, June 20, reaching its highest degree since Jan. 26 and marking a 123% achieve from its lowest degree this 12 months.
Kaia (KAIA) rose by 18%, hitting a excessive of $0.20 and bringing its market capitalization to over $1.2 billion. Its 24-hour quantity jumped 40% to $136 million, whereas its futures open curiosity climbed to a report excessive of $63 million.
Kaia has been in the highlight after integrating Tether (USDT) on its blockchain. The builders additionally pledged to assist a South Korean received stablecoin on the chain.
The rally accelerated on June 20 after Kaia unveiled part 2 of the $100,000 Kaia and Kaito Yapper Rewards. Yapper Rewards is a part of the community’s development technique, wherein builders encourage customers to put up about it on social media.
Kaia rewards customers who put up high quality content material that generates significant interactions similar to likes, replies, and shares from respected accounts. Not like in the first part, the second part will reward even yappers not in the prime 100.
Kaia price additionally jumped after the community joined the Japan Blockchain Affiliation. In an announcement, the builders stated becoming a member of the affiliation alerts a dedication to the Japanese market, the place Kaia is scaling by mini-applications on Line.
In the meantime, third-party information exhibits that Kaia’s community is rising, with whole worth locked rising 47% in the final 30 days to $121 million. Its stablecoin provide rose to over $41 million, larger than Cardano (ADA) $41 million.
Kaia price technical evaluation
The each day chart exhibits that the Kaia token bottomed at $0.0950 in March earlier than shifting sideways. This consolidation was doubtless a part of the accumulation part of the Wyckoff Idea.
Kaia price then jumped because it entered the markup part, characterised by larger demand than provide. It has damaged above the key resistance degree at $0.1795, its highest level on June 12. Kaia additionally rose above the 23.6% Fibonacci retracement degree at $0.1725 and the 50-day Exponential Shifting Common.
Subsequently, the token will doubtless proceed rising as bulls goal the 50% Fibonacci retracement degree at $0.2587, which is about 35% above the present degree. A drop beneath the assist at $0.15 would invalidate the bullish view.
