Why did the CSPR price, the native token of the Casper network, experience a remarkable surge of 130% in just one day? Let's delve into the fundamentals and technical analysis behind this historic rise.
The Casper token (CSPR) delivered a staggering performance on April 28, 2025. It soared by over 100% to reach an intraday high of $0.023. This spectacular increase propelled the project’s market capitalization to $215 million. The surge can be attributed to several encouraging technical and fundamental factors.
Firstly, open interest in CSPR futures contracts hit a 5-month high at $6.64 million, reflecting an influx of investors betting on further upside. Moreover, the funding rate has remained positive for the past six days, indicating a strong bullish bias in the market. Additionally, over $1.7 million worth of CSPR tokens have been withdrawn from exchanges in just 48 hours, showing investors’ inclination towards hoarding.
Behind this exceptional momentum lies the imminent announcement of the “Casper 2.0” upgrade, scheduled for May 6. This ambitious version aims to enhance the scalability, security, and developer experience on the Casper network. The team has dubbed this milestone a “major leap forward” for the blockchain, positioning it as a gateway between traditional economy and Web3.
Furthermore, community trust has been bolstered by changes in the leadership team. According to active members, the team historically associated with delays and unfulfilled promises has been replaced, injecting a more rigorous execution dynamic.
From a technical standpoint, CSPR has recently broken out of a 5-month descending channel, indicating a major trend reversal. Technical indicators, such as the upward trending MACD and Aroon Up at 100%, support this positive momentum.
The next key resistance level is around $0.024, which is 45% above current levels. However, caution is advised with the RSI in overbought territory, potentially signaling a short-term consolidation before the next bullish move.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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