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Casper (CSPR) Spikes 15% Following Key Partnership – What’s Next?

Casper (CSPR) has been making significant strides in the cryptocurrency market, attracting attention with its aim to accelerate enterprise and developer adoption of blockchain technology. As a live proof-of-stake blockchain built off the Casper CBC specification, Casper offers unique features and growth potential, drawing interest from investors and enthusiasts alike.

In the past week, there has been a significant upturn in its on-chain volume. Casper has experienced a substantial price surge in the past 24 hours, with its value increasing by 4.62%. This surge has created excitement among investors, especially as the cryptocurrency has displayed steady growth over the past 7 days, gaining an impressive 14.58%. The positive price movement has generated enthusiasm and optimism among Casper investors, who are pleased with their returns during this period.

Casper (CSPR) price has spiked in the past few days: Source @Tradingview

As of the latest data, Casper (CSPR) is ranked 84th among all cryptocurrencies, with a current price of $0.04035. The circulating supply of Casper stands at 11,202,499,993, contributing to a total market capitalization of $456,309,769. The cryptocurrency’s recent performance has been particularly noteworthy, showcasing impressive short- and long-term growth.

Collaboration With INX Boosts Market Sentiment

A contributing factor to Casper’s recent growth can be attributed to its strategic partnership with INX, a United States-regulated broker-dealer. Casper’s equity was tokenized and listed through this collaboration, enhancing investor confidence and further supporting the cryptocurrency’s upward trajectory. This strategic move has enabled Casper to tap into new markets and expand its reach to a broader audience.

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Casper’s price surge aligns with the optimistic market sentiment toward cryptocurrencies. The growing interest from institutional investors and the increasing mainstream adoption of digital assets has instilled confidence in crypto. Additionally, influential figures within the blockchain industry have shared positive views on cryptocurrencies, including Casper, contributing to the overall positive outlook.

Casper (CSPR) Price Analysis

Casper has experienced a consistent upward trend in July after it bottomed at $0.0365. Since then, its price has increased by 30% and has hit heights of $0.0405. This positive trend is likely to continue in the coming weeks with more developments expected to be deployed on Casper.

From a technical analysis standpoint, Casper exhibits promising signals. The daily chart reveals the formation of a bullish falling wedge pattern, indicating a potential trend reversal.
CSPR has also surpassed the 25-day exponential moving average and is currently testing the 50-day MA. If the bullish trend continues the next resistance point is $0.40 while a bearish downturn will see the support at $0.0397.

Related Reading: Why Worldcoin (WLD) And PEPE Dominate The Crypto Market Trends This Week

As Casper continues to gain visibility and traction in the market, its future growth potential remains promising. The cryptocurrency’s underlying technology, including its proof-of-stake consensus mechanism, offers scalability, security, and energy efficiency. These features position Casper as an attractive enterprise adoption and long-term development candidate. 

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from iStock, chart from TradingView

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Casper Notches 14% Rally In The Weekly Charts – Will CSPR Soar Higher?

In the last week, the crypto market has been on an upswing, with most assets recording little amount of market gains. However, CSPR, the native token of the Casper Network, is one of the biggest gainers, surging by 13.9% over the last seven days. 

While fairly popular, CSPR has been one of the most impressive tokens of 2023, with a staggering profit record. Chart data from Coingecko shows that the altcoin soared by 60% in the month of April, moving its total market gains in 2023 to a stunning 114.4%.

At the time of writing, CSPR is trading around $0.058, with a 6.5% price jump in the last 24 hours. Its daily trading volume, valued at $14.98 million, is up by 41.65%. Meanwhile, its market cap value is set at an impressive $682.12 million. 

Casper

What Is Casper (CSPR), The Future-Proof Blockchain? 

Casper is a developer-friendly, business-centered public blockchain designed to serve as a platform for the secure, fast, and efficient development of sustainable blockchain-based products. 

Touted as the future-proof blockchain, Casper is the brainchild of product developer Medha Parlikar and angel investor Mrinal Manohar. The Casper mainnet was launched in 2021, and it runs on a unique variant of the proof-of-stake consensus algorithm known as the Highway Protocol.

The Highway Protocol functions as an energy-efficient and flexible consensus protocol, which enables networks to finalize transactions in a non-binary manner, thus allowing blocks on Casper to be created in a faster time than other blockchains. 

In addition, Casper offers users upgradeable smart contracts, another unique network feature that allows developers to modify their already deployed contracts, enabling businesses to build blockchain products that adapt to consumer needs and market trends. 

Casper is also popular for its low gas fee structure supported by its advanced PoS mechanism. As earlier stated, its native token is known as CSPR and is utilized for payment of network fees, staking, and rewards for network validators. 

Will CSPR Soar Higher? 

Due to CSPR’s remarkable performance, there is much speculation on the ability of the token to maintain its current bullish momentum as investors try to determine profit-making opportunities.

According to the popular crypto prediction site, Coincodex, the investor sentiment presently surrounding CSPR is quite bullish. Meanwhile, its Fear and Greed Index hovers around 60, indicating the token may be a favorable investment at the moment.

Coincodex predicts that Casper will rise by 11.42% in the next five days, hitting a price of $0.065. However, their projections do not indicate a long-term faith in CSPR, as they expect the token to have slumped by 30% in the next month.

That said, investors are reminded these predictions are merely speculations and should not be relied on as investment advice.