Kaspa: More Volatile than Bitcoin, but Becoming More Attractive Based on Open Interest Data

Kaspa’s (KAS/USDT) open interest (OI) has skyrocketed and reached a new all-time high of $152.5 million. Price-wise, KAS jumped by over 40% in the last 30 days. In fact, at the time of writing, Kaspa is trading at $0.1615. This represents almost 7% increase over the past week.

As can be seen from the price chart, Kaspa is currently in a moderately bullish phase. With positive sentiment and greater investor readiness, KAS is poised to soon unveil even more price action. KAS will try to break through the $0.180 resistance level, which has been rejected several times. A breakout here would see Kaspa reach $0.184 and rise to $0.19 for the first time since August.

Kaspa, a proof-of-work (PoW) cryptotoken, made the list of stellar performers for 2023, climbing 1,901% back then This cryptocurrency is a fairly well-known token that implements the Phantom-based GHOSTDAG (proof-of-work, PoW) protocol. Unlike traditional blockchains, GHOSTDAG “steals energy” from the blocks used, but instead allows them to perfectly coexist and organizes them in a consensus network. This Nakamoto-inspired consensus blockchain approach allows for secure operation with very high block transfer rates (currently one block per second, closer to 10/sec, with plans for 100/sec) and near lightning fast confirmation times.

The Kaspa implementation includes many interesting features such as Reachability for querying DAG topology, block data pruning (block header pruning is in the near future), SPV proofs, and in the future, subnetwork support, which will greatly simplify the implementation of Layer 2 solutions. Instant block time in Kaspa promotes pre-transaction privacy and transaction anonymity, protecting users from various exploits — for example, manipulating transaction queuing.