Bullish Kaspa Price Prediction Points to $2 KAS Price as Whales Turn to Plutochain – Kaspa News Today
January 1st, 2025 at 9:03 pm UTC · 4 mins read
/PlutoChain/ – Due to more clarity and supportive policies, KAS has seen a surge in institutional adoption and whale accumulation.
Right now, many are optimistic about its potential to reach $2, if this momentum continues.
PlutoChain ($PLUTO) is another project that could gain traction and it’s due to its potential to upgrade Bitcoin’s ecosystem with smart contracts technology.
Let’s see what’s going on with Kaspa and PlutoChain.
Will Kaspa (KAS) Reach $2 as Investor Confidence and Momentum Build?
As of December 26, 2024, Kaspa (KAS) is trading at approximately $0.1146, which reflects a 4.1% increase over the past 24 hours.
The RSI for KAS is currently around 39, which means that the asset is approaching oversold territory.
In terms of support and resistance levels, immediate support is observed at $0.10 and resistance at $0.13.
Regarding moving averages, the 50-day Exponential Moving Average (EMA) is trending downward, which indicates short-term bearish momentum. Similarly, the 200-day EMA is also declining.
While KAS is currently experiencing downward pressure, a reversal could happen if it breaks through the resistance level with increased trading volume.
One of the key milestones for KAS this year was the implementation of the GHOSTDAG protocol. This upgrade allows the network to process blocks faster without sacrificing security.
In June, Marathon Digital Holdings, a leading cryptocurrency mining company, began mining Kaspa, which contributed to the network’s security and decentralization.
The Kaspa development team also maintains a strong connection with its community. They share regular updates and insights to strengthen trust and engagement within the ecosystem.
Alex Clay, a crypto analyst on X, highlights Kaspa’s bullish structure and cites 371 days of accumulation and strong retracement from key support levels.
He predicts price targets of $0.280430, $0.395145, and $0.511035 and expresses confidence in Kaspa’s potential for huge gains.
PlutoChain Could Take Bitcoin to Another Level with Hybrid Layer-2 Technology and Smart Contract Integration
Bitcoin users often struggle with issues like network congestion, slow transaction speeds, and high fees, but PlutoChain ($PLUTO) offers a potential solution with its hybrid Layer-2 network.
PlutoChain plans to create a parallel network on top of Bitcoin’s main blockchain. This could reduce traffic, lower fees, and improve scalability.
Due to the 10-minute block time, Bitcoin has been less competitive against newer blockchains like Ethereum, Solana, and Cardano, which process transactions faster and attract developers.
PlutoChain could change this dynamic by cutting block times to just 2 seconds with its L2 chain, which would allow smart contracts to function efficiently while preserving Bitcoin’s security.
It could bring much-needed versatility to Bitcoin and potentially move it beyond its role as a store of value.
PlutoChain offers Ethereum Virtual Machine (EVM) compatibility, which could allow developers to easily migrate their Ethereum-based projects to Bitcoin.
The platform can meet real-world demands without delays and congestion — it can handle 43,200 transactions daily.
As for security, PlutoChain has undergone independent audits by SolidProof, QuillAudits, and Assure DeFi, to make sure its smart contracts and network infrastructure are free from vulnerabilities.
It implements rigorous internal checks, such as regular code reviews and stress tests, to stay ahead of potential risks. The platform also complies with international regulatory standards.
Early adopters have a direct say in the project’s future through a decentralized governance model. They can vote on proposals, upgrades, partnerships, and new features.
The Takeaway
Kaspa (KAS) has made several important moves in 2024 and its bullish structure and long-term projections show there’s potential for growth.
But there are challenges, like short-term bearish momentum, and resistance at $0.13, which might slow down its trajectory.
A project that could be a game-changer is PlutoChain ($PLUTO).
Its hybrid Layer-2 technology and EVM compatibility could make Bitcoin more versatile and finally tackle the issues of network congestion and slow transactions that have held it back.
With PlutoChain’s help, Bitcoin might realize its full potential.
Remember, this article is not financial or trading advice. All cryptocurrencies are volatile, and past performance is not a guarantee of future results. Always conduct your own research and/or consult with experts before making any crypto-related decisions. Trade responsibly. Forward-looking statements are uncertain and might not be updated.
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