Kaspa Price Surges 12%, But On-Chain Activity Weakening

Kaspa [KAS] has seen significant price action in recent days, gaining 12% over the past 24 hours and a whopping 23% for the week.

However, despite this impressive performance, data suggests that on-chain activity is weakening. The number of Daily Active Users (DAU) on the Kaspa network has plummeted by 78% in just one week, from 36,570 to 7,910.

This decline in activity has also led to a decrease in transactions, with the standard transaction count dropping from 208,480 to 113,530 over the past day. Notably, however, transactions via Coinbase for Kaspa have remained relatively stable, indicating that U.S. investors continue to hold a bullish outlook.

The Liquidation Heatmap analysis suggests that liquidity clusters are lined up below the current price, with a few above it. This could indicate a potential pullback towards $0.038 if momentum changes.