Initial Perception
This seems one of those coins that managed to build a huge community by doing a fair launch making a lot op people rich or at least good money. You pretty much see it shilled everywhere by total fanatics similar to the XRP army (130B), Doge (82B), and Cardano (93B) Holders, ... which are all coins that reached a ridiculous market cap previous cycle with arguably no real product or people using it purely on speculation, 'future potential' and hype alone.
What is Kaspa ?
From my understanding it tries to be the 'silver' to Bitcoin which is seem as Gold aimed for actual payment transactions. It also plans to have smart contracts but I don't think that is live yet. The tech from what I'm reading is supposed to actually be good and it's based on a DAG (Directed Acyclic Graph) similar to Hashgraph with the difference that it's Proof Of Work. They also claim to solve the "Blockchain Trilemma" (similar to how many other blockchains like Algorand claim this) and are supposed to have a solid team.
Why it needs a Token ?
This is often the hardest question to answer. As it's Proof of brain coin, the Kaspa token is rewarded to miners similar to Bitcoin and they aim to have it become digital cash which would give it value but at the same time make it inconvenient to use because of the price going up and down all the time. From what I understand it's also used to pay gas fees for transactions. However at an average of 0.0001 KAS per transaction it's basically free. It can be staked to earn rewards but those are fake because they just come from inflation and not from actual revenue that is made.
KAS Price Chart
The price has basically been up only going from 0.00018$ in February 2022 to a peak of 0.16$ in November 2023 which equals +88000% so it does come with a risk of being the exit liquidity for those who managed to get rich off it and there is also a constant inflation which likely gets dumped to pay the mining costs. However at a 3.5 Billion total valuation, it's still a 26x away from how high Cardano went last Cycle.
Is KAS Still A Buy ?
Purely based on the fact that due to the crazy hype and shilling of the community, Retail will likely buy this coin once they come in similar to XRP/Cardano/Doge in the last cycle which all reached market caps way higher then Kaspa there should be plenty of room to grow.
My Strategy...
I still tend to look for actual fundamentals based on usage and revenue generation which I feel stupid for in the crypto space. Kaspa doesn't have any of that right now so at best I will buy some putting in my smaller speculative altcoin portfolio. I likely will put some buy order around the lower upward trendline where ot bounced on the previous dip.
Conclusion &
Kaspa has everything a crypto needs to reach a totally absurd irrational Valuation. It has a crazy fanatic community, no real working product that anyone is actually using but something that on paper has a lot of promise. It is also yet to be listed on Binance which inevitably will happen given that there will be a lot of trading generating fees for them. Pure fundamentally there have been so many projects that were BTC/ETH Killers which all went nowhere eventually and I don't believe there will ever be a time when KAS will be used for actual payments but it feels inevitable that it will pump along with the market as one of this cycles next Fugazi Hype Pump & Dump coin.
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