Kaspa price is up 15% in the past week as it hovers near the $0.1 mark.
In the past 24 hours, Kaspa (KAS) has recorded a notable 30% increase in daily trading volume to over $131 million. KAS price was at $0.092.
According to data from Coinglass, the KAS token trades with a 2% uptick in open interest to $199 million. Meanwhile, derivatives volume has surged 49% to over $252 million.
With digital assets in bullish territory amid key developments during the “crypto week”, KAS price may eye a breakout to $0.2 – an area of its all-time high seen in August 2024.
Kaspa crypto outlook
The Kaspa crypto token hasn’t spiked as hard as have some top altcoins in the past 24 hours. KAS indeed lags Ethereum (ETH) or XRP (XRP), both of which have broken above key levels. ETH eyes the $4k mark, while XRP price has rallied close to a new all-time high.
However, although Kaspa’s price has retreated from intraday highs, it remains above $0.09 after bouncing off recent lows with a 15% surge this past week.
KAS also trades above both the 50- and 200-day simple moving averages, a technical picture that supports a bullish continuation. The House passing key crypto regulation bills in the U.S. and the overall bullishness around digital assets will likely catalyze further gains for KAS.
The layer 1 blockchain’s token can also rally alongside other ”Made in America” cryptocurrencies.
Kaspa’s first play-to-earn web3 app
One notable development in the Kaspa ecosystem is the excitement around PPKAS, a meme token project on Kaspa. The project is Kaspa’s first play-to-earn web3 application and seeks to blend memecoin fun, utility, and community.
Per details on the PPKAS token shared via X on July 17, the project is experiencing significant gains across its multi-app platform, with features such as mini-games, virtual mining, and the non-fungible token collection “Little Hero.”
