In this round of the bull market, the PoW token Kaspa has not performed well, often showing 'bearish' behavior, causing token investors to gradually lose confidence. However, a mining KOL (Red Panda Mining) with 236,000 followers on YouTube made a surprising statement yesterday, claiming there are rumors that Binance has been accumulating KAS tokens. (Background: What is Kaspa? A comprehensive overview of PoW's new star, KAS token economics, and mining tutorials) (Background supplement: AMA highlights) Kaspa is expected to easily rise to $1, with community meetings focusing on technology rather than price. Among the top 100 tokens by market capitalization in this bull market, the PoW token Kaspa (KAS) has shown impressive performance during the bear market, but its recent performance has been subpar, often dropping after the market rises, with the recent KAS price even falling back to levels seen at the beginning of this year, causing concern within the Kaspa community. Renowned mining KOL: Rumors that Binance has been accumulating KAS Recently, the mining KOL (Red Panda Mining) with 236,000 followers on YouTube tweeted the shocking claim that there are rumors that Binance has been accumulating KAS tokens, waiting for the right market-making opportunity: There are rumors suggesting that Binance is hoarding Kaspa, and thus market-making activities could reach an astonishing scale. Although there is no evidence indicating that Binance is hoarding KAS, the comments below Red Panda Mining's post are quite interesting. This article also compiles various possible inferences regarding Binance's accumulation of KAS: Binance has listed contracts and mining pools but has no spot holdings. First, we know that Binance has launched KAS contract trading and KASPA mining pools, so we can roughly infer that Binance has a high chance of launching KAS spot trading in the future. According to the inference from the Kaspa Taiwan community, Binance first launched KAS contracts (2023/11) to test KAS's market potential, and then in August of this year, KASPA mining was launched to accumulate KAS tokens. This viewpoint seems partially related to Red Panda Mining's inference. Next, observing the KAS price, the price when Binance launched the KAS contract was about $0.115, which is very close to the current KAS price ($0.1175). Additionally, Binance launched Kaspa mining in August when the KAS price reached its historical high. Following this logic, Binance may have intended to launch KAS spot trading pairs earlier, but when launching the spot trading market, Binance has many considerations, including the entry of market makers and trading volume, which must meet Binance's standards to proceed. As KAS is one of the few fairly launched PoW projects in the current market, Binance, as the largest exchange, cannot obtain sufficient market-making components through collaboration with the project unless it participates in mining for some time, which might also be the main reason for launching the mining pool service. Therefore, it is very likely that after verifying KAS's market potential, Binance is still accumulating spot volume through mining pools and other means to promote KAS's listing. However, it should be reminded that Binance currently has no announcements regarding KAS spot listings; this content is merely a compilation of community inferences and extensions, and is not financial advice, please proceed with caution. KAS experiences its fourth historical RSI oversold scenario. On the other hand, community user @mikroweller tweeted that the daily RSI indicator for KAS has reached the oversold area, a situation that has only occurred three times in history, and each time reaching the oversold area has meant that the price has bottomed out, followed by an average rebound of 1300%. In response, @mikroweller stated that if history repeats itself, the KAS price could rise to about $1.5, but the reliability of this technical indicator still needs time for verification. Related reports: Footprint June public chain research report: Crypto market correction, Toncoin, TRON, Kaspa grow against the trend. Bitcoin mining company Marathon announces it has mined Kaspa for nine months, making a profit of $15 million, KAS jumps 15%. The Taiwanese mining pool 'GPUMINE' will close all cryptocurrency mining operations on 8/30, with final withdrawal instructions for ETC and KAS. 'Binance is rumored to be hoarding Kaspa to prepare for spot trading; how credible is this news?' This article was originally published by BlockTempo (the most influential blockchain news media).