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.