Kaspa (KAS) price rose sharply as Bitcoin traded to above $88k
The 13% jump for KAS puts it among the top gainers today.
Kaspa price could target $0.2 in the short term.
Kaspa (KAS), a proof-of-work cryptocurrency leveraging the innovative GHOSTDAG protocol, has surged 13% in the last 24 hours, making it the top gainer among the top 100 cryptocurrencies by market cap.
This rally comes amid a broader market upswing, with Bitcoin (BTC) climbing above $88,000 and top altcoins showing signs of renewed momentum.
The surge suggests Kaspa’s unique blockDAG technology, which allows parallel block creation for faster transactions, continues to attract investor attention.
Kaspa price today
As of writing on April 22, 2025, Kaspa’s price is approximately $0.091, with a double digit increase in 24 hours.
Notably, the altcoin’s price is up 48% in the past two weeks and reached an intraday high above 0.092, its highest level since early March.
With a market cap of around $2.4 billion, KAS currently ranks 37th globally.
Meanwhile, the trading volume has spiked by over 80%, reaching $115 million, a scenario that signals strong market interest.
Despite KAS price being well below its all-time high of $0.2075 from August 2024, today’s performance suggests Kaspa is regaining traction.
The coin’s ability to process multiple blocks per second, aiming for 10 or even 100, underpins its appeal for scalability-focused investors.
Bitcoin helps bulls higher
Bitcoin’s climb above $88k has ignited optimism across the crypto market, providing a tailwind for altcoins like Kaspa.
The OG crypto’s resilience, driven by positive sentiment around institutional adoption and potential U.S. regulatory shifts, has lifted market confidence.
Granted, other top altcoins, including Dogecoin and IOTA, have also posted gains over the past week.
However, Kaspa leads the pack among 100 largest by market cap. Its proof-of-work model, akin to Bitcoin’s, positions it as a beneficiary of BTC’s bullish momentum.
I’m addition, MARA’s mining of KAS tokens since September 2023 further ties Kaspa’s fortunes to the broader PoW ecosystem, boosting its credibility and investor interest.
KAS price analysis
Technical indicators point to a bullish outlook for Kaspa.
A look at the daily chart shows KAS breaking above the $0.089 resistance, now acting as support, with the next targets at $0.106 and potentially $0.15.
The possible double bottom pattern combines with bullish indications from the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD).
The latter shows a bullish crossover, signaling continued upside potential.
However, volatility remains a risk, which could hinder a short term surge to $0.2. But if buyers sustain the momentum, this hurdle could give way to an extended rally.
