Kaspa (KAS) and Hedera (HBAR) are both struggling under persistent bearish trends, even as their networks post impressive fundamental growth. Kaspa dipped below support at $0.0285 and touched the $0.027 zone, now changing hands at $0.0277, down 0.5% on the day while the broader crypto market rose nearly 1%. The price action remains weak, with lower highs and lower lows intact since June's peak above $0.034. The first major hurdle for buyers is reclaiming the $0.0285–$0.0290 area; a break there could open the door to $0.0300 and then $0.0315. Failure to hold $0.0270, however, risks a slide toward $0.0265.
Behind the price, Kaspa's developer activity is surging. The Toccata network upgrade introduced covenant-style programmability and zero-knowledge proof infrastructure, and GitHub activity has hit its 2026 peak. Community tests show Kaspa's EVM layers can process transactions 200 times cheaper than Ethereum's mainnet, a potential competitive advantage. Tokenomics are also improving: circulating supply growth could drop to just 2.2% within a year, reducing sell pressure. The MVRV ratio sits at 0.784, historically a zone near major bottoms, though no immediate recovery is guaranteed.
Hedera's HBAR is in a similar bind, trading at $0.0668 after bouncing inside a $0.065–$0.070 range. The coin is down 37% year-to-date and 88% from its 2021 all-time high. Yet on-chain metrics show daily active wallets up 190% and dApp transaction volume jumping 386% year-over-year. Much of that activity comes from prepaid accounts, which does not directly boost HBAR demand. Institutional access expanded via integration with Utila, a custody platform that has processed over $200 billion in volume, offering MPC wallets and compliance tools. Meanwhile, Lloyds Banking Group, Aberdeen and Archax completed the UK's first FX trades using tokenized money market funds and government bonds on Hedera, targeting the $5.4 trillion daily forex market. Despite these milestones, the chart remains bearish: the key resistance is $0.0685–$0.070, and a drop below $0.065 could send HBAR to $0.063–$0.064. The Fear & Greed Index at 35 underscores fragile sentiment.
