Why Is Kaspa (KAS) Price Up? Short-Term KAS Price Prediction

Kaspa holders can be fairly happy with how this week is going, considering that the KAS price recovered well from the dip and pumped 26% in the last 7 days.

Coinbase Advanced announced that it will be adding support for Kaspa (KASPA) perpetual futures, expanding the range of crypto derivatives available on its platform.

According to a recent tweet by Coinbase Advanced, the exchange will open KASPA-PERP markets on or after 9:30 am UTC on February 20, 2023, subject to liquidity conditions. The announcement also includes the addition of SPX-PERP markets, to be opened at the same time.

CoinBase Advanced is adding support for $KASPA and $SPX perpetual futures.

The opening of KASPA-PERP and SPX-PERP markets will begin on or after 9:30 am UTC 20 FEB 2023.

Coinbase Advanced is a trading platform that offers users access to advanced order types, margin trading and a wider selection of crypto derivatives, compared to the standard Coinbase exchange.

The addition of Kaspa perpetual futures on Coinbase Advanced comes as the exchange continues to expand its product offerings to meet the growing demand for crypto derivatives trading.

Perpetual futures are a type of derivative contract that allows traders to speculate on the future price of an asset, without the need to physically own the underlying asset. They differ from regular futures contracts in that they do not have a fixed expiry date and can be held indefinitely.

The price of KASPA has seen significant volatility over the past few months, largely influenced by the broader market trends and developments within the Kaspa ecosystem.

After reaching all-time highs above $0.20 in early 2023, Kaspa price encountered a downturn, falling to lows of $0.07 in June. The price recovered somewhat in the second half of the year, but remained below previous highs.

At the time of writing, Kaspa price shows a 9% increase over the past 24 hours and is trading at $0.102. The recent price surge follows the announcement of Coinbase Advanced adding support for Kaspa perpetual futures.

According to CoinMarketCap, KASPA is currently ranked 327th by market capitalization, with a circulating supply of 100 million tokens and a total supply of 2.1 billion tokens.