Should You Keep Holding Kaspa Tokens Despite the Scary Price Action?

Kaspa price action has been interesting to watch lately. After a strong rally earlier in August, things have begun to slow down again.

As you know, KAS nearly doubled in price during that run. But once it got close to the big resistance level around $0.10, it hit a wall. The momentum stalled, and since then, we’ve seen some sluggish trading. At the time of writing, Kaspa is back around $0.088.

That’s down nearly 20% from the recent high, with yesterday alone seeing a sharp 9% drop. Unless something big sparks new interest soon, we could continue drifting downward.

Now, this mood shift is interesting. For a while, it looked like Kaspa had found new life, but that excitement hit a ceiling. The $0.10 mark has proven tough to break in the past, and this time was no different.

When Kaspa couldn’t push through, the sell pressure returned quickly. Now, people are watching closely to see if we’ll bounce back from here, or if we’ll keep sliding.

But here’s where things get interesting. Despite the scary chart, the Kaspa community is still incredibly optimistic. In fact, some voices in the space are saying this dip might actually be a good test of people’s belief in the project.

One of those voices is HoveR, who described this moment as “the hardest hold we’ve ever faced as Kaspians.” But it’s not because of fear or doubt.

This is, without a doubt, the hardest hold we’ve ever faced as Kaspians.

Not because we’re unsure – far from it. We hold the superior model in our hands, and deep down, we know it. We see the vision, the innovation, the brilliance of what Kaspa represents. But watching the rest of the market clock in on the value proposition of Kaspa will be interesting, to say the least. They’ll never quite understand why people are so committed. They'll see a coin that went up a lot, then down a bit, and they’ll scratch their heads.

We, however, know better. We’ve seen the slow burn, the patient building, the resilience of a community that stands for something bigger than quick gains or short-term losses. We’ve seen Kaspa, in its decentralized glory, scalable to the universe and running on pure Proof-of-Work, no shortcuts, no gimmicks, just clean architecture and long-term vision.

And maybe, just maybe, the reason why Kaspa hasn’t yet exploded into the mainstream is because it threatens the status quo. Once Kaspa bursts onto the scene, it won’t be competing, it will be changing the landscape. A token that started small and is now setting the standard for a new era of Web3.

But they’ll never see it coming. They’ll be too busy chasing the next hype cycle, while we, the Kaspians, continue on our journey, unfazed by the noise and focused on the true potential that lies ahead.

It’s not a crypto token, it’s a movement. And while they may be slow to realize it, the conviction among long-term holders remains strong. Despite the recent price action, the fundamentals of Kaspa are still intact.

In other news, there are also some interesting shifts in the technical market data. According to Kaspa Daily, we’ve seen open interest rise across major exchanges in the last few hours. Meanwhile, funding rates are still in positive territory.

This is significant because it suggests that most traders are still optimistic and placing more leveraged long positions on Kaspa. A rise in open interest with positive funding often indicates an influx of traders opening longer-term positions.

Of course, this isn’t a guarantee of a rebound, but it does suggest that there might be less bearish pressure than some reports indicate.