This is why the price of Kaspa increased by 15% today

Kaspa’s price has risen nearly 15% in the past day as investors have been anticipating the long-awaited hard fork of the Toccata network despite continued weakness in the crypto market.

According to the Kaspa network, the Toccata hard fork is scheduled to go live on the mainnet around 16:15 UTC on June 30. Exchanges including HTX have temporarily suspended deposits and withdrawals before the upgrade to support the change.

The development introduces native smart contract functionality in the SilverScript programming language, while also adding support for KRC-20 tokens, decentralized financial applications, and bare-bones privacy features.

Together, these additions remove one of the network’s biggest limitations by expanding Kaspa beyond its original role as a high-speed proof-of-concept payment blockchain.

The development of the Toccata changed the use of the Kaspa

As the hard fork approaches, trading activity has accelerated as investors position for higher on-chain activity. According to the Kaspa network, the development is expected to enable developers to build decentralized applications directly on Kaspa by introducing native smart contract functionality, extending the network beyond its traditional payment environment.

On-chain activity also supported the bullish narrative. The network is approaching a milestone of nearly 2.35 billion transactions, which shows the continued use of its BlockDAG architecture as new features are introduced. Supporters of the network have long argued that BlockDAG enables higher parallel transactions than traditional blockchain designs, reducing congestion during periods of high demand.

The technical setup has boosted the movement. Before the hard fork, Kaspa had spent several months trading within a long consolidation range, with buyers repeatedly defending the $0.025-$0.030 area. The improvement came while many derivatives traders remained in retreat, creating short-term squeeze conditions as spot demand increased.

Forced liquidation of bearish positions added momentum to the rally if price broke above its recent trading range.

The daily chart also shows a recovery taking KAS back above the 20-day simple moving average near $0.030 while testing resistance at the 50-day moving average near $0.0317. At the same time, the MACD produced a bullish crossover with a dynamic histogram, indicating the development of momentum.

However, the token is trading below its 100-day and 200-day moving averages, suggesting that a further trend reversal may require more buying pressure.

Technology purchases have gone through major headwinds

Kaspa’s rally took place while much of the cryptocurrency market continued to struggle under a major negative backdrop. Stronger-than-expected US Core PCE inflation readings and the Federal Reserve’s hawkish policy stance under Chairman Kevin Warsh have pressured risk assets in recent days, contributing to an estimated $1.79 billion in cumulative outflows from US spot Bitcoin exchange-traded funds.

Unlike most proof-of-stake networks, however, Kaspa operates on a proof-of-work model with approximately 95.4% of its top supply already in circulation. As the issuance of new tokens gradually decreases over time, the introduction of smart contracts and execution fees with the development of Toccata has strengthened the network resource without increasing the supply.

That supply power, combined with renewed developer opportunities and short-coverage activity, helped Kaspa capitalize on the big cryptocurrency as money continued to flow out of other digital assets.

Whether the rally goes from here may depend on whether buyers can retest resistance at the 50-day and 100-day moving averages before challenging the longer-term 200-day average near $0.0353.