Kaspa (KAS) has been a hot topic over these past few weeks with its unique BlockDAG technology that’s the main value driver right now.
As its price flirts with new highs, analysts are starting to discuss whether KAS can reach the long-awaited $1 mark.
PlutoChain ($PLUTO) could also start to get traction. This hybrid Layer-2 project is preparing for its mainnet launch and it promises to upgrade BTC’s functionality in the upcoming weeks.
Let’s get into the details and see what’s happening.
$1 Mark for KAS: How Likely is That to Happen?
As of December 18, 2024, KAS is trading at approximately $0.138, reflecting a 2.84% decrease over the past 24 hours. Over the last month, the cryptocurrency has experienced a 4.14% decline.
Technical indicators present a mixed outlook. The Relative Strength Index (RSI) has recently fallen to 38%, suggesting that KAS is approaching oversold territory, which could lead to a price reversal.
KAS is currently hovering around some key resistance levels. The immediate resistance is around $0.155, followed by $0.162 and $0.165. Support levels are identified at $0.145, $0.142, and $0.135.
Analysts have differing views on Kaspa's (KAS) chances to hit the $1 mark.
For instance, Binance forecasts that Kaspa could reach a maximum price of $0.13 by the end of 2024, with an average price of $0.13 over the remainder of the year.
Similarly, CCN predicts that Kaspa's price could grow from $0.125 to $0.45 by 2026, with the possibility of hitting a peak price of $2.22 in the long run.
KAS certainly has potential, but reaching the $1 mark would require a perfect storm of events - which might not be feasible in the short term.
Could PlutoChain Be the Key to Transforming Bitcoin’s Network and Upgrading Its Capabilities?
PlutoChain ($PLUTO) could finally bring a hybrid Layer-2 solution that might significantly boost Bitcoin’s blockchain capabilities by introducing smart contracts and dApps.
Bitcoin’s 10-minute block time has always been a major limitation, especially when compared to faster networks like Ethereum, Solana, and Cardano.
PlutoChain may overcome this challenge with its Layer-2 infrastructure, with a block time of just 2 seconds.
This could pave the way for developers to build more sophisticated dApps while still benefiting from Bitcoin’s solid security and decentralization.
Key Features and Functions of PlutoChain That Early Adopters Should Know
PlutoChain is packed with robust features and practical solutions that could change how Bitcoin functions.
Its testnet has already processed over 43,000 daily transactions, which proves its scalability and potential real-world use cases.
From the beginning, community governance has been a key principle, giving users a direct influence over protocol updates and the future of the network. This ensures that the platform remains decentralized.
PlutoChain has completed three independent audits by reputable firms—SolidProof, QuillAudits, and Assure DeFi—ensuring the integrity of its infrastructure and reassuring both developers and users.
Another standout feature is its compatibility with the Ethereum Virtual Machine (EVM), which could combine Ethereum's versatility with Bitcoin's robust security.
This could make it easier for Ethereum-based applications to migrate to the Bitcoin network, potentially opening up new opportunities.
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