Casper Network’s token, CSPR, is suddenly back on everyone’s radar after a massive breakout this week. The price jumped over 170% within just 10 hours, hitting an intraday high of $0.023 — its best level since December 2024.
At the time of writing, CSPR is cooling off a bit around $0.0163 but still holding strong with a 60%+ daily gain. After the pump, the price has dropped, which amounts to a 62% pump in 24 hours.
24-hour trading volume surged by over 3,000% compared to the day before, pushing daily volume close to $142 million. Its market cap now sits around $213 million, according to the latest numbers.
A big reason behind the rally? Casper 2.0 is coming. The upgrade, set to launch on May 6, promises faster speeds, stronger security, and a better environment for developers building on the network. The team called it a “leap forward” for Casper, aiming to make it easier for real-world businesses to tap into Web3 tech.
Traders are clearly getting excited. Open interest in CSPR futures has spiked to $6.6 million — a five-month high — and funding rates have stayed positive for nearly a week straight, meaning more people are betting on higher prices.
On-chain data also shows around $1.7 million worth of CSPR moved off exchanges into private wallets over the weekend, another bullish sign that holders aren’t looking to dump just yet.
On the technical side, CSPR just broke out of a descending channel it had been stuck in for months. It also smashed through a key wedge pattern that had been weighing down the price. If bulls manage to reclaim $0.025 soon, the next major target could be as high as $0.10.
Still, RSI shows CSPR has been overbought for the past two days, so a small pullback wouldn’t be surprising before the next leg up.
Meanwhile, there’s growing optimism inside the community. Word is that Casper’s leadership team went through changes recently, bringing in new people after a long stretch of delays and missed milestones.
Community sentiment has flipped sharply positive — 92% of traders on CoinMarketCap expect short-term gains, and CSPR has been trending on Google search.
Casper launched its mainnet back in March 2021, branding itself as the first live proof-of-stake blockchain built using the Casper CBC standard. After months of silence, it looks like CSPR is finally waking up — and the next few weeks could decide just how big this breakout really gets.
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