比特幣睡覺時，卡巴為終極復出做準備

在特朗普關於關稅的消息後，整個加密貨幣市場都受到了打擊，因為比特幣跌至83,000美元，所有Altcoins都大量流血。

The whole crypto market got hit following Trump’s news about the tariffs as Bitcoin dipped to $83k with all altcoins bleeding heavily. One of them is Kaspa, as the KAS price dipped to $0.063 at press time after trading above $0.080 in March.

在特朗普關於關稅的消息後，整個加密貨幣市場都受到了打擊，因為比特幣跌至83,000美元，所有Altcoins都大量流血。其中之一是Kaspa，因為3月交易後，KAS價格在發稿時下降到0.063美元。

However, we all know Kaspa’s community is among the strongest ones in crypto, and even during Kaspa’s darkest hours, you could see positive sentiment on X.

但是，我們都知道卡巴人的社區是加密貨幣中最強大的社區之一，即使在卡巴最黑暗的時刻，您也會看到X上的積極情緒。

‘Kaspa Report’ posted another viral tweet to their followers.

“ Kaspa Report”向追隨者發布了另一條病毒推文。

“The narrative that fells empires:

“墮落帝國的敘述：

Kaspa is the best money ever invented, yet they're pivoting to fiat despite it being hopelessly flawed.

卡巴是有史以來發明的最好的錢，但儘管菲亞特有毫無希望的缺陷，但他們還是樞紐了。

Financial system heading towards stagflation. Will need to print more to avoid a crisis.

金融系統正朝著滯後。將需要更多印刷以避免危機。

People prefer assets w/ less counterparty risk.

人們更喜歡具有更少的交易對手風險的資產。

Kaspa benefits massively.

Kaspa受益匪淺。

Come to the light. $KAS https://t.co/n7rL7m729bpic.twitter.com/Z648G8q81Z

來吧。 $ kas https://t.co/n7rl7m729bpic.twitter.com/z648g8q81z

— Kaspa Report (@report_kaspa) April 4, 2025″

- Kaspa報告（@Report_Kaspa）2025年4月4日''

Mining Activity Shows Signs of Bottom?

採礦活動顯示底部的跡象？

The Kaspa network hashrate has dropped to 840 PH/s. This is about half of what it was at its highest point. This drop suggests miners are giving up, which often happens near market bottoms.

Kaspa網絡哈希拉特已降至840 pH/s。這大約是最高點的一半。該下降表明礦工正在放棄，這通常發生在市場底部。

But there’s some good news. The fees paid to miners started going up after hitting a 6-month low. On April 2nd, these fees reached one of the highest levels in 2025. This happened mainly because more people are creating KRC-20 tokens on the network.

但是有一些好消息。支付給礦工的費用在達到6個月的低點後開始上升。在4月2日，這些費用達到了2025年最高水平之一。這主要是因為越來越多的人在網絡上創建KRC-20令牌。

The price chart is showing what traders call a “hidden bullish divergence.” This technical pattern, along with the rising fees, hints that Kaspa might be forming a bottom in its own price cycle.

價格圖顯示了交易者所說的“隱藏的看漲差異”。這種技術模式以及上升的費用暗示，卡巴可能在自己的價格週期中形成底部。

Kaspa Whale Activity

卡巴鯨活動

The KAS/BTC ratio is extremely oversold. This means Kaspa is very cheap compared to Bitcoin right now. Many who used to strongly support KAS have already sold and moved to other cryptocurrencies.

KAS/BTC比率極高。這意味著與比特幣相比，卡巴非常便宜。許多曾經強烈支持KA的人已經出售並搬到了其他加密貨幣。

With most weak holders gone, there aren’t many sellers left in the market. This lack of selling pressure could help the Kaspa price recover.

隨著大多數較弱的持有人消失，市場上沒有多少賣家。缺乏銷售壓力可以幫助Kaspa價格恢復。

A large whale wallet (n4uk5a) is buying huge amounts of KAS. This single wallet is collecting nearly 70% of the new coins being generated. Meanwhile, the number of long-term holders isn’t changing significantly – they’re holding strong.

一個大鯨魚錢包（N4UK5A）正在購買大量的Kas。這個單一的錢包收集了近70％的新硬幣。同時，長期持有人的數量並沒有發生重大變化 - 他們保持強勁。

As more coins land in inactive wallets, a supply shortage could eventually occur. When demand remains the same but supply shrinks, prices usually rise.

隨著越來越多的硬幣降落在不活動錢包中，最終可能會出現供應短缺。當需求保持不變，但供應量縮小時，價格通常會上漲。

The tweet also highlights concerns about the traditional financial system heading toward stagflation – a combination of stagnant growth and inflation. They predict that central banks will need to print more money to avoid a financial crisis.

該推文還強調了對傳統金融體系朝向停滯的擔憂 - 生長和通貨膨脹停滯的結合。他們預測，中央銀行將需要打印更多的錢來避免金融危機。

During periods of financial uncertainty, people often seek out assets with less counterparty risk. The Kaspa Report claims that their cryptocurrency could benefit from this trend as a less risky investment.

在財務不確定性期間，人們經常尋找對手風險​​較小的資產。 Kaspa報告稱，他們的加密貨幣可以從這種趨勢中受益，這是一項風險較小的投資。

A Balanced Perspective

平衡的觀點

Kaspa Report makes some good points that we can check, like the network data and the large trader buying. But we should be careful about their big claims about the economy and calling Kaspa “the best money ever invented.”

Kaspa報告提出了一些我們可以檢查的好點，例如網絡數據和大型交易者購買。但是，我們應該謹慎對待他們對經濟的重大主張，並稱卡巴“有史以來發明的最好的錢”。

All crypto projects face huge challenges like getting people to use them, dealing with legal issues in different places, and upgrading their technology. Kaspa’s recovery depends on more than just its tech; it needs the market and investor interest to come back.

所有加密項目都面臨著巨大的挑戰，例如讓人們使用它們，在不同地方處理法律問題併升級其技術。卡巴的恢復不僅取決於其技術。它需要市場和投資者的興趣才能回來。

The big drop in hashrate could mean different things. It might show we’re nearing a bottom, but it could also indicate serious problems with the Kaspa network that are driving miners away.

哈希拉特的大量下降可能意味著不同的事情。這可能表明我們正在接近底部，但也可能表明驅動礦工的Kaspa網絡的嚴重問題。

And while it’s interesting that whales are buying Kaspa, having a few wallets control lots of coins can be risky for everyone else investing in the project long-term.

儘管鯨魚正在購買Kaspa，但有趣的是，擁有一些錢包控制大量硬幣可能會使其他所有人長期投資該項目都有風險。

When reading analysis from big fans of a coin during a downturn, it’s best to balance their enthusiasm with your own research and an awareness of the risks involved.

在低迷期間，在閱讀一枚硬幣的大粉絲的分析時，最好將他們的熱情與您自己的研究和對所涉及風險的認識之間的平衡。