KAS supply reaches a new high, price may face a 10% decline risk

The supply of $KAS has reached an all-time high, which may lead to a price decline. Despite a 2.72% increase in the price of Kaspa [$KAS] over the past 24 hours, market sentiment indicates that its price may continue to fall. The circulating supply of $KAS reached a record 25.62 billion in the past 24 hours, resulting in a tightening of demand and a significant decrease in trading volume by 76.13%. If the support level of $0.1276 is breached, $KAS could drop by 10.47%. Derivatives market data suggests that $KAS may decline further, with the amount of long positions being liquidated far exceeding that of short positions.