Kaspa (KAS) fluctuates 23.5% in 24 hours: IgraNetwork mainnet launch pushes it to a $0.042 high before profit-taking ensues

Volatility Overview

In the past 24 hours, KAS price rebounded from a low of $0.034 to a high of $0.042, with the current quote at $0.03898, resulting in an overall amplitude of 23.5%. The 24-hour trading volume ranged from approximately $27.32 million to $40.25 million, about 30% lower than the previous day, indicating that trading activity slowed down following high volatility.

Brief Analysis of the Causes of the Anomaly

• Igra Network mainnet went live on March 19. As a decentralized EVM layer on Kaspa, it supports smart contracts and DeFi, directly driving the price to surge to a 51-day high of $0.0405.

• After confirming a falling wedge breakout, KAS rebounded, but technical weakness and the overall correction in altcoins triggered profit-taking, leading to a 4.71% pullback from the high.

Market Views and Outlook

Community sentiment is bullish, with discussions on X highlighting KAS daily, weekly, and monthly charts turning green, a flat MACD, and bottom formation. The Fear & Greed Index reached 60. The mainstream view is optimistic about a rebound to $0.055-$0.06, but also cautions about overbought conditions and profit-taking pressure.