Cryptonews Price Analysis

Kaspa’s $3 Dream: What’s Fueling the ‘Next ETH’ Narrative After 32% Rally

Crescendo upgrade

Ethereum KAS

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Jimmy Aki

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Jimmy Aki

Part of the Team Since

Sep 2022

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Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, and Blockonomi, covering news...

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May 21, 2025

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Kaspa ($KAS), one of the few cryptocurrencies still operating on a Proof-of-Work (PoW) consensus mechanism like Bitcoin, is defying crypto trends with a fiery 32% surge, clawing back from Q1’s loss.

Despite a minor 2.6% dip in the past 24 hours, Kaspa has gained approximately 32% over the last two weeks. The uptick coincides with a marked increase in network activity, drawing fresh attention from its community.

According to CoinMarketCap’s Crypto Community Sentiment indicator, Kaspa ranks as the fourth most bullish cryptocurrency among the top 100, with over 93% of users expressing positive sentiment. This surpasses other well-known tokens such as Pi Coin, $XRP, and $ONDO.

Can Kaspa 25x From Here? Crescendo Upgrade and Whale Moves Ignite Bullish Bets

After a relatively quiet period, Kaspa’s daily transaction volume sharply increased, reaching nearly 700,000 transactions in a single day.

This spike began shortly after the rollout of the Crescendo KIP-10 upgrade, which greatly improved the network’s performance by increasing block production from 1 to 10 blocks per second.

Just days before the surge, the network handled around 100,000 daily transactions. By May 6, that figure had climbed to 677,477, and it has sustained growth since.

https://twitter.com/DailyKaspa/status/1920026170638078420

The upgrade appears to have made the network faster and more efficient, contributing to broader user engagement.

Whale activity has also shown signs of stabilization. Since May 12, immediately after the Crescendo update, one wallet has accumulated 60 million $KAS tokens through consistent inflows from the KuCoin exchange.

*Kaspa Whale scoops 60 million $KAS token/ Source: X*

This has prompted many crypto “HODLers” in the Kaspa community to believe that buying $KAS now is like buying Ethereum at $40 back in 2017, with anything under $3 per Kaspa seen as a bargain.

https://twitter.com/kaspalife/status/1924510992421015680

Meanwhile, the number of long-term holders continues to rise. Over the last three months, the number of addresses in the top 25% of $KAS holders has increased by around 6,000, reaching approximately 179,000.

Kaspa Price Prediction: Can $KAS Break $0.12 and Target the $0.14–$0.16 Range?

Kaspa ($KAS/$USDT) is showing signs of a potential bullish reversal following a prolonged downtrend that began in late 2024.

The asset is currently trading at $0.1112 and is attempting to break through a key resistance zone formed by the Fibonacci fan levels.

*Kaspa price prediction/ Source: TradingView/Kucoin*

A potential double bottom pattern is visible on the chart, formed by two rounded lows in March and April near $0.065.

After breaking above the neckline at around $0.085, the token has gained strength and is challenging multiple resistance levels. The Fibonacci fan lines, which had previously acted as dynamic resistance during the downtrend, are now being tested from above.

A decisive move beyond the grey and orange fans around the $0.115–$0.12 level could open the door for a further rally toward $0.14 and potentially $0.16 if the momentum continues.

Supporting the bullish outlook, the MACD indicator has crossed into positive territory. The MACD line (blue) is above the indicator line (orange), while the histogram prints green bars, suggesting a continuation of upward momentum.

This crossover occurred after a bullish divergence formed during the April lows, further reinforcing a shift in sentiment.