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bitcoin
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Ethereum (ETHEREUM)
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binancecoin
BNB (BINANCECOIN)
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Solana (SOLANA)
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XRP (RIPPLE)
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Shiba Inu (SHIBA-INU)
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pepe
Pepe (PEPE)
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bonk
Bonk (BONK)
$0.000017 3.70%
bitcoin
Bitcoin (BITCOIN)
$108,481 2.05%
ethereum
Ethereum (ETHEREUM)
$2,582 1.85%
binancecoin
BNB (BINANCECOIN)
$659.22 0.69%
solana
Solana (SOLANA)
$155.24 0.66%
ripple
XRP (RIPPLE)
$2.29 0.15%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -0.22%
pepe
Pepe (PEPE)
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bonk
Bonk (BONK)
$0.000017 3.70%
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Kaia Price Soars 20% Amid Stablecoin Launch and Exploding Derivatives Volume

Highlights:

  • The price of Kaia has increased by 20% to $0.13, driven by the successful launch of its stablecoin.
  • Kaia’s technical indicators signal overbought conditions, which may call for a slight retracement. 
  • Kaia’s derivatives market saw a massive 2886.96% increase in volume, indicating strong market confidence.

Kaia price has increased about 20% to $0.13, as the bullish sentiment spikes in the market. Its daily trading volume has notably soared 1828%, indicating heightened trading activities. This comes as Kaia Chain has made significant progress by letting native USDT (Tether) run on its blockchain network. With this, Kaia Chain will be able to offer stablecoins for the first time. The introduction of a KRW stablecoin is the next big step, which is expected to improve Kaia Chain’s influence in the Asian area. 

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Kaia Chain’s launch of its stablecoin is called part of the “Stablecoin Summer,” which refers to the company’s activity in this sector. With this step, Kaia Chain is able to add more fiat-backed digital currencies to its system, increasing its chances in the regular finance world.

Kaia Price Technical Indicators

There has been a strong rise for Kaia (KAIA), as its price has increased by 30.32% in the past few days to $0.1343. KAIA’s sharp increase has taken place over the past few days, clearly seen on the 4-hour chart that shows the currency breaking from its short-term range. At the moment, the RSI for Kaia is 80.81, suggesting that it could be getting too high as it sits in the overbought territory. Even so, these figures point out that there is still a strong demand for Kaia among buyers.

Kaia price
KAIA/USD 1-day chart: TradingView

Kaia price has broken through its resistance levels, but now, it is encountering strong support near $0.1147 (50-day MA), and the next expected resistance is at $0.136. With this development, traders have a positive opportunity to make profits from ongoing bullish movements. One should pay close attention to the price movement to sense if there’s consolidation or a pullback before the next major movement.

Kaia Chain’s Derivatives Market and Growing Investor Interest

There has been a strong increase in activity on Kaia’s derivatives market, with both trading and open interest reaching new record levels. There has been an amazing 2886.96% rise in the volume, making it $257.67 million, and open interest has gone up 152.08%. These figures show that investors maintain a strong and steady presence.

Kaia Derivatives Data. Source: CoinGlass

The current long-to-short ratio for Kaia is 1.06, so many traders are still holding long positions and are positive about the token. The increased interest in Kaia shows that it has the potential for success in the coming period.

Kaia’s Bullish Outlook and Key Levels to Watch

Traders and investors are getting increasingly interested in Kaia because of its successfully launched native stablecoin and the firm’s anticipated launch of a Korean stablecoin. As the derivatives market shows positive signals and the price is going up, Kaia stands to gain further. Particularly, traders should observe the $0.14 level as support.

Meanwhile, traders have overbought the token, so a slight pullback may occur soon. In the case of Kaia price retracement, traders should watch out for support zones at $0.128 and $0.123. Any trader interested in getting into the market could find a better entry by observing if it moves down again to support or moves up past resistance.

Final Thoughts

Following its successful USDT integration and the coming KRW launch, the blockchain is now going through an exciting period. Thanks to more money pouring in and an increase in the trading of derivatives, Kaia is experiencing a promising future. Using things like stablecoins makes the platform stand out in the blockchain and DeFi sector, and its price is likely to grow further.

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