CasperIt can be described as a ‘living proof-of-stake blockchain’ based on the CBC specification. Its native token garnered a lot of attention after CSPR ranked first in the market for profitability among the top 100 digital assets in the cryptocurrency industry. So what is Casper? Why is CSPR rising? Details are here.
How Does Casper Work?
Koinfinans.com As we have reported, Casper is constantly being developed according to the evolving needs of its users. Blockchain aims to be maximally accessible to developers. Casper is optimized to suit enterprise and developer needs.
As the demand for intuitive and connected services is slowly increasing, Web3 During the active development of its industry, the network also takes steps to improve itself. According to the developers’ statements, Casper offers a solution to the critical triad of adoption: security, scalability and decentralization in a single blockchain protocol.
CSPR Market Performance
Casper’s native token, CSPR, continues to strengthen, defying the bad news of the past 45 days.
According to technical analysis, Casper has been moving in a sharp uptrend for the past 45 days and will likely face a technical correction due to the imbalance between bulls and bears.
The asset has been in overbought territory over the past few weeks according to the Relative Strength Index, so reversal is highly likely. Unfortunately, a nearly 43% rally was not enough for the asset to reach pre-ATH values.
Long-term, the CSPR is trading in a downtrend below the 200-day moving average. If a short-term reversal successfully breaks the local moving average and surpasses $0.042, it could be the basis for a favorable trend reversal.
Casper’s market cap was recorded at $451,233,180, while the total supply was recorded at 11,219,530,834 CSPR. 10,426,328,139 of this supply is in circulation.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.