- Casper Network price rose over 60% in April, hitting a high of $0.060.
- CSPR traded at around $0.059 at the time of writing, about 6% up in the past 24 hours.
- While CSPR price is above key support level, here’s the price outlook for Casper Network going into May.
Casper Network price rose more than 60% in April as the value of the native CSPR rallied to above $0.060. The cryptocurrency’s price currently sits around $0.059, up 6% in the past 24 hours and nearly 16% higher in the past seven days.
However, while the Casper token is one of the standout performers of the last month, it remains off its peak of $1.33 by some huge distance. According to data from CoinGecko, CSPR reached its all-time low of $0.022 in June 2022, meaning traders who took positions at these levels are 164% up on their investment.
CSPR at current levels is -95% from the all-time high reached in May 2021.
What is Casper Network (CSPR)?
Casper Network, a layer 1 blockchain network targeted for enterprise adoption of the blockchain technology. CSPR is the governance token of the Casper blockchain, whose mainnet launched in 2021.
As a native token, CSPR has multiple roles in the Casper ecosystem, including network fees, staking rewards and payments as a medium of exchange.
The Casper Network has seen multiple projects built on top of its proof-of-stake blockchain. One of the projects on the smart contracts platform is layer 2 protocol Metis that migrated from Ethereum to Casper. Metis looks to boost development of Decentralized Autonomous Companies (DACs).
Another project is patent encryption platform IPwe, which targets the creation of a decentralised database system for patent management and licensing. There’s also ACDX, a digital assets exchange for structured products and derivatives trading.
Casper price prediction: What next for CSPR?
CSPR price 4-hour chart. Source: TradingView
Casper’s price could continue to rise into May and potentially break above $0.1. This outlook will materialise if CSPR price consolidates above $0.065, building new momentum for a breakout above $0.080.
Above the $0.10 level, significant resistance will be around $0.13, with a bullish Casper price prediction of $0.20 in May.
On the downside, CSPR’s outperformance over the past month could see traders eye profit taking deals. Such a scenario will definitely dent the bullish momentum and result in downward action, with a potential slump to $0.025.
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The cryptocurrency, CSPR has experienced a significant rally in April, resulting in a 60% price surge. This increase in value has caused a stir in the crypto market – what can investors expect next?
Since the beginning of April, CSPR’s market capitalization and price have surged by more than 60%. The rise in the price of the cryptocurrency has been attributed to several factors, such as the overall strength of the cryptocurrency market and the increasing demand for CSPR as a viable investment option. Recent updates to the project and progress in its development have also been key to the altcoin’s recent surge.
Now that CSPR has seen such a strong rise in value, experts are left wondering if the rally will continue. There are a number of factors that investors should consider if they are looking to make an educated decision on a Casper price prediction.
First and foremost, investors should focus on CSPR’s fundamentals. The altcoin is backed by a well-established network of developers who are passionate about the project, meaning future updates and progress are likely on the cards. The project also has a solid roadmap with ambitious goals, meaning that its long-term potential could be considerable.
Casper’s active community is also continuing to grow, with more and more users joining Casper’s decentralized ecosystem. This indicates that the platform’s potential is being realized, and investors may be more likely to invest in CSPR as a result.
Additionally, the crypto market is also likely to have an impact on Casper’s price. As the overall market recovers, it is expected that the demand for cryptocurrencies will increase, providing a good foundation for CSPR to remain actively traded and benefit from further gains.
Overall, the recent rally in CSPR’s price has been significant, and investors should pay attention to the underlying fundamentals of the project and the overall cryptocurrency market before investing their hard-earned money. However, if CSPR can capitalise on its current success, then we may see the altcoin enjoy further gains in the near future.
