Kaspa has been the talk of the town earlier this year, an increase of 2828%. Many buyers have been locking in profits since the price surge in November which has retraced the price back down since the peak of $0.154 to $0.106.
As the altcoin currently undergoes a consolidation phase, it seems to be taking a breather in the dynamic crypto market. For those who have been monitoring Kaspa but missed the initial entry earlier in the year. Would this be a chance to enter the market?
Is Kaspa going to be listed on Binance soon?
Many Kaspa followers have observed an address, seemingly belonging to Binance, accumulating a substantial amount of Kaspa. This accumulation today ranks as the 9th largest holding in the Top 10 Kaspa holding list.
Furthermore, the discovery of 2 or 3 sender addresses specifically created for this transaction adds intrigue. One of these addresses is actively loading Kaspa with a transaction every 10 minutes, totaling over 8,000 transactions. This could mean that Binance is testing the waters for Kaspa transactions in preparation for a potential listing.
Binance Listing Impact on Kaspa
This discovery has led to a lot of excitement among Kaspa followers. Here are some historical data on the impact of Binance listing.
-By the 3rd day the average price performance was +24%
-The average price increase for all coins on the 1st day after the Binance listing analyzed was +41% .
-The average max price in the 30 days after the listing was +73% higher than on the day of the listing.
-On average, coins stayed 22 days in the positive after a listing before going intp the negative again.
Looking ahead for Kaspa future
The cryptocurrency market experiences rapid shifts on a daily or even hourly basis, influenced by factors such as regulations, developments in cryptocurrency exchanges, and prevailing market sentiment. The strength of a community plays a crucial role in investment considerations, and Kaspa stands out with its strong community, contributing to its overall resilience.
Despite a recent downturn in prices, a great number of Kaspa investors have retained their holdings, demonstrating a steadfast belief in the coin’s potential. The prospect of Binance potentially incorporating Kaspa introduces a noteworthy opportunity for crypto investors who are seeking entry into the Kaspa.
As Binance is a prominent and widely-used cryptocurrency exchange, its potential listing of Kaspa could enhance the coin’s accessibility and visibility within the broader market. Crypto enthusiasts looking to diversify their portfolios or capitalize on emerging opportunities may find this potential integration on Binance to be a compelling reason to consider involvement with Kaspa at this juncture.
