Casper Network’s CSPR Token Spikes 90% Ahead of Major Upgrade

Casper Network’s CSPR token briefly spiked hard on Monday morning, nearly doubling from $0.01 to $0.019.

The rally comes in the wake of Casper’s announcement on April 22 that it will launch Casper 2.0 upgrades on May 6. The changes are intended to increase Casper’s efficiency and scalability, and improve the developer experience.

While the token has since retraced most of its gains, it remains up 55% over the past week.

Beyond the price increase, CSPR’s trade volume soared from $4.1 million on April 27 to $34.3 million on April 28, an increase of nearly 740%.

According to Casper community member Nick, the real cause of the surge was a change in leadership.

“We have watched as the @Casper_Network has completely shifted focus and started pushing major updates,” Nick wrote on X. “I stated before that the names behind Casper that were telling us nothing but promises, yet never delivering, were gone with Prove AI.”

Prove AI is the new name of Casper Labs, and it is the creator of an eponymous blockchain-based AI governance platform focused on helping organizations audit and manage their AI activities. Prove AI agreed to build its Prove AI product exclusively on Hedera in exchange for a grant and marketing support.

At that time, the Casper Association announced a new board whose goal is to lead Casper’s transition to a community-led blockchain.

Casper is a proof-of-stake blockchain for smart contracts. One feature that sets it apart is that Casper smart contracts can be written in several different languages, although many documentation examples and the Casper System contracts are written in Rust.