CoinEx Shutdown Triggers Kaspa Price Swing

The cryptocurrency Kaspa (KAS) has experienced a significant price swing of 3.4% in a single day, largely attributed to the shutdown announcement of centralized exchange CoinEx.

CoinEx's decision to cease trading and support for Kaspa was made public on September 14th, with deposits stopping on September 22nd and all spot trading ceasing on September 29th. Withdrawals will be available until December 22nd for assets including Kaspa.

The shutdown of CoinEx has triggered a forced repositioning around the closure, leading to short-term uncertainty about where liquidity will migrate and general negative sentiment among users who prefer to exit rather than move their assets.

Kaspa's price chart shows a relatively modest net move, but a clear intraday swing that fits the 3.16 percentage point framing. The timing of the move is consistent with an exchange shock driving part of the swing, followed by the market digesting the impact.