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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.”