Crypto analyst Crypto Jon has announced his decision to sell his Kaspa (KAS) holdings in favor of Turbo, an Ethereum-based token. In a video posted earlier today addressing his 68.7K YouTube subscribers, Jon explained his strategic move away from the proof-of-work cryptocurrency.
The analyst’s primary concern centered on Kaspa’s limited presence on major cryptocurrency exchanges. Despite waiting until the end of the year, Jon noted that Kaspa only managed to secure a Kraken listing.
He emphasized that Coinbase’s historical reluctance to list proof-of-work coins, except for established cryptocurrencies like Bitcoin and Litecoin, poses a significant barrier to Kaspa’s growth potential.
Leadership Issues and Slow Price Action
Jon expressed strong criticism regarding Kaspa’s development team, particularly focusing on the project’s leadership.
He pointed out that instead of focusing on crucial developments like smart contracts, exchange listings, and partnerships, the team’s communication has diverged into political discussions on social media platforms.
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According to Jon’s analysis, Kaspa’s performance over the past year has been disappointing. With a current market capitalization of $3.37 billion, he believes the potential for significant returns is limited compared to alternatives. The analyst specifically highlighted that despite community excitement, the project’s growth has stagnated.
The Turbo Alternative
Jon’s decision to switch to Turbo was influenced by its smaller market capitalization of $560 million, which he believes offers greater growth potential. He emphasized Turbo’s advantages, including its presence on major exchanges, deflationary tokenomics, and strong community support. The analyst predicts Turbo will achieve a 10x return faster than Kaspa.
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Looking ahead to 2025, Jon cautioned investors against overly optimistic price predictions for Kaspa. He warned that while Kaspa remains a solid project, expectations of reaching $5-20 are unrealistic without major exchange listings.
The analyst advised his followers to be wary of influencers making excessive price predictions, suggesting they might lead to investors becoming “bag holders.”
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