Altcoins Drop, But KAIA Stays Strong Ahead of Genius Act
The crypto market saw sharp moves as several altcoins dropped, but KAIA managed to stand out. KAIA, a Layer-1 blockchain supported by Kakao and LINE, has jumped nearly 100% over the past week. In the last month, it has gained around 180%, thanks to strong on-chain activity, growing staking, and more dApps being launched on its network. Its total value locked (TVL) has reached impressive levels, showing strong investor interest. However, KAIA now faces an important support level. If it holds, prices may stay strong, but if not, a correction could happen.
In contrast, Curve DAO’s CRV token fell sharply, losing about 30% recently. The fall started after liquidations connected to its founder Michael Egorov, which caused heavy selling. Large amounts of CRV have been moved to exchanges, which could lead to more price drops if selling continues.
ENS (Ethereum Name Service) saw smaller movements. It has been following the overall market trend and may stay volatile depending on market news and trader sentiment.
Impact: KAIA might hold strong if support levels remain intact. CRV could stay weak if selling pressure continues. ENS may trade sideways with possible small moves based on news.