Kaspa price rose to highs above $0.031 before giving up gains to sit around $0.030.
The upside momentum for the altcoin was derailed as major exchange Uphold announced it was delaying the listing of KAS.
Uphold says the delay is due to a technical issue that will soon be sorted out.
Kaspa (KAS) was among the biggest gainers earlier today as cryptocurrencies looked to bounce following Bitcoin’s sharp decline overnight Wednesday.
In the past 24 hours, as BTC looked to reclaim $29,000, the price of Kaspa rose more than 10% to break above $0.031. The upside saw KAS bulls begin to eye the token’s all-time high near $0.043 reached on 2 April 2023.
That attempt to put bears in their place is on hold though as one of the major catalysts for the altcoin going up was the impending listing on a major US crypto exchange
Uphold delays listing of Kaspa (KAS)
On Thursday, Uphold, which was set to be the first centralised crypto exchange in the US to list KAS, announced it would be delaying the listing. The multi-asset digital asset platform said the “difficult decision” had been taken due to technical issues.
⚠️ KAS listing delayed
We’ve made the difficult decision to postpone this listing due to technical issues.
Our customers deserve a smooth and fair trading experience – and we’re excited to list KAS as soon as we can ensure this. pic.twitter.com/qJGuB2cY4H
— Uphold (@UpholdInc) April 27, 2023
But despite the delay, Dr. Martin Hiesboeck, the Head of Research at Uphold, has assured KAS holders that the issue was “minor” and will soon be solved. He tweeted:
“As we’re expecting *high demand*, we’ve taken the difficult decision to delay this listing due to some technical issues – to ensure you get a smooth and fair trading experience and best execution. Won’t be long, it’s a minor thing we’ll sort out soon.”
He offered to explain everything on the Twitter Space.
After seeing a double digit uptick in price, with weekly gains rising to over 30%, Kaspa price is just in the green in the past day (at the time of writing) and about 28% higher over the week.
Currently, KAS can be traded on multiple exchanges, including MEXC Global, Gate.io and BingX. The token’s recent momentum has come amid a flurry of listings, including on LBank and Bitget.