In a thrilling development for cryptocurrency enthusiasts, Keeta’s price has surged by over 17%, following a significant listing on the renowned U.S. crypto exchange Coinbase. As the anticipation builds for its mainnet launch scheduled for later this month, investors are closely monitoring this altcoin’s trajectory.
The spike in Keeta’s price, which reached a peak of $1.09 on September 5th, marks a notable recovery since it experienced a downturn earlier in August. With a current market capitalization exceeding $406 million, KTA is asserting itself in the competitive landscape of cryptocurrencies. This rally has drawn the attention of both whales and seasoned investors, indicating a robust accumulation trend since the Coinbase announcement.
Data from Nansen shows that smart money investors have ramped up their holdings significantly, now possessing 8.65 million tokens, up from less than 7 million just two months ago. Additionally, whale investors are strategically increasing their positions, holding over 76.7 million tokens. This trend highlights a growing confidence in Keeta’s potential, especially as it approaches its mainnet launch.
Moreover, Ty Schenk, the founder of Keeta, recently revealed pivotal updates about the project’s tokenomics. Early investors’ allocations will be integrated to form Keeta’s strategic reserves, which consist of 400 million KTA tokens. This integration is projected to stabilize the token’s value and enhance investor trust. Backed by technology visionary Eric Schmidt, former CEO of Google, Keeta is positioned as a contender to become the fastest blockchain, boasting the capability to handle over 10 million transactions per second.
The market sentiment around KTA remains bullish as it continues to trade above critical support levels, buoyed by the Coinbase listing and the impending mainnet launch. However, analysts advise caution, as short-term fluctuations are to be expected as the hype surrounding the listing settles. The technical indicators suggest that as long as KTA stays above its ascending trend line, a price rebound leading up to the mainnet launch is likely.
