KAS rallied over 25%, will the gains continue?

KAS jumped nearly 28% in the past day as it tried to break out of the downtrend it’s been stuck in since last December.

Kaspa Kaspa kas 8.41% Kaspa rose to an intraday high of $0.074, bringing its market cap close to $2 billion earlier today, with its daily trading volume nearly doubling to $188 million as of press time.

Notably, today’s gains come after a long downtrend, with KAS hitting lower highs and lower lows since hitting $0.188 on Dec. 9 last year. The altcoin still remains 68% below its all-time high, around levels last seen in early November 2023.

The main catalyst fueling today’s gains comes as crypto data aggregator CoinMarketCap added KAS to the “Made in America” category yesterday.

Even though Kaspa is decentralized and has developers from all over the world, CMC’s listing has caught investors’ attention, as some members of the crypto community speculate that the current U.S. administration, led by President Donald Trump, may eliminate capital gains taxes on U.S.-based cryptocurrency projects.

You might also like: Kaspa price jumps 20% to lead top altcoins Another key factor behind Kaspa’s recent gains is the promising results of its Crescendo upgrade, currently in the testnet phase.

According to an official March 10 X post, Kaspa’s Testnet 10 has successfully transitioned to 10 BPS, a significant increase from the current 1 BPS on the mainnet. The milestone keeps Kaspa on track to achieve its scalability goals.

Additionally, members of the Kaspa community have highlighted its low transaction fees, which allow for the transfer of millions between wallets at minimal cost. Its fast and cost-effective transactions may be driving more interest in KAS and influencing its recent price movement.

The rally also coincides with a shift in social sentiment around KAS, which has turned positive, according to Santiment data, which means most of the discussions surrounding KAS are bullish.

KAS price analysis