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Kaspa's (KAS) supply on exchanges has reached a record high, while transaction counts have declined, potentially leading to a 10% price drop. Key points:

Growing Supply and Declining Transactions

1. Record high supply: KAS supply on exchanges has surged to 25.62 billion.
2. Declining transactions: Transaction counts have dropped by 76.13% in the last 24 hours.

Market Sentiment and Price Outlook

1. Bearish sentiment: Market sentiment is bearish, driven by unfavorable KAS fundamentals.
2. Support level: KAS is trading above its support level at $0.1276, but weak buying pressure may lead to a breakdown.
3. Potential 10% drop: If the support level fails, KAS could decline by 10.47% to $0.1147.

Derivative Market

1. Liquidation data: Long contracts worth $719,900 have been forcefully closed in the last six days, favoring short traders.
2. Market bias: The market is biased towards a price drop, with short traders gaining an advantage.

Investors should stay cautious and watch for support level breaches to manage risks effectively.