thenewscrypto.com
- Binance opens Kaspa mining service for users.
- Kaspa ($KAS) is not listed on Binance.
- The token has declined 15.94% in the past 24 hours.
Binance’s native pool has officially launched the Kaspa Network ($KAS) mining service. The launch of this service on the platform does not guarantee a token’s listing on Binance, as per official statement.
$KAS miners can relish zero pool fees for $KAS mining, during the“promotion period” — from today to November 5, 2024. Earlier, Binance had introduced $KAS futures in 2023, but the $KAS spot in the market was left unlaunched.
The affinity between Binance and Kaspa began with the introduction of $KAS futures.
According to the official source, the $KAS futures allow traders to take positions with and leverage in USDT pairings. It is important to note that $KAS is not currently listed on Binance.
Current Price Action of $KAS
Moreover, crypto market opened today with the highest volatility. All the major tokens have declined. Among them, Kaspa ($KAS) has noted a considerable decline of 15.94% in the past 24 hours. It took the price down to $0.1477. Over the past week, $KAS was down by 20.83%, hitting a high of $0.2074 and bottoming at $0.1864. Currently, Kaspa is trading at $0.1512 with a market cap of $3.68 billion. Whereas, the daily trading volume has increased by 58.37% to $235 million, according to CMC data.
Meanwhile, the daily relative strength index (RSI) stands at 29.44, suggesting the asset is in an oversold condition. The short-term 9-day and 21-day moving averages are above the current price at $0.18453 and $0.18172, respectively, which indicates bearish momentum.
If the $KAS bulls wake up, the initial resistance seems to be at $0.15911, and the bulls maintain this momentum, a higher resistance can likely be at $0.16749. If the bulls could not overpower the bears, the price might fall to $0.14782. The subsequent support may be found at $0.14008.