The open-source cryptocurrency project Kaspa might be experiencing an investor shift towards a new project, Bitnance, on the Binance Chain. Over the last month, $KAS holders not only saw its value decrease, but the project took a hit of over a quarter billion dollars.
Since July 22nd, the asset went from $0.1774 to today’s value of $0.1604—a stark 10% decrease. On August 5th, the project landed its lowest value of that timeframe at $0.1301, marking a 26% decrease from what the crypto was worth at the end of July.
During the last month, the project had an average daily trading volume of around $42,000,000. However, a massive volume increase accompanied the bearish reversal Kaspa saw on August 3rd.
Typically, when a cryptocurrency’s value decreases alongside a surge in trading volume, it signals increased selling pressure in the market. With a potential outflow of $KAS holders in the market, some of them are joining a new project on presale on the Binance Chain.
Kaspa Investors Joining Bitnance
According to data from Bitnance presale wallet, $KAS investors are among the majority of people betting on the new project. Per two other reports, both Tron (TRX) and Shiba Inu (SHIB) coin holders are also beginning to migrate.
The $BTN token is currently in its presale offering phase, offering tokens at a discounted rate of $0.35. Perhaps Kaspa holders may be drawn to this opportunity to buy in early at a lower price before the token is listed on major exchanges at a higher starting price of $0.465 on the ICO date.
One of the most interesting aspects of the new project is its commitment to being a deflationary store of value. With a limited maximum supply of 10.5 million tokens, $BTN is bound to already enter the Binance Chain as one of the rarest tokens of the blockchain.
Kaspa holders, who might already appreciate the importance of scarcity in driving value, could find Bitnance’s capped supply appealing, as scarcity could lead to higher demand and increased value.
Today, Kaspa has a total supply of 24,512,182,371 $KAS tokens. Meanwhile, Bitnance is approximately 2,334 times scarcer than Kaspa based on its total token supplies.
Bitnance Could Have a Higher Growth Potential
As a new project on the market, Bitnance’s growth potential can be considered borderline limitless. The token’s current presale price of $0.35 is attractively low compared to its projected value of $1. This represents a potential increase of 185%, making it a compelling investment for those who act early.
The limited supply of 10.5 million tokens enhances its appeal. As more investors seek assets with deflationary characteristics, Bitnance stands out due to its capped supply. This scarcity, combined with the token’s association with the Binance Chain, could drive significant demand and price appreciation.
Moreover, the broader market trends and geopolitical factors, such as the shift towards digital assets amid economic uncertainties, further support the token’s potential. Investors looking for new opportunities may find Bitnance’s unique characteristics and growth prospects an attractive alternative to other cryptocurrencies.
With its innovative approach and the right market conditions, Bitnance could experience substantial growth, offering solid returns to early adopters.
Source: https://coinpedia.org/sponsored/kaspa-coin-price-spikes-holders-migrating-profits-to-bitnance-presale/