KGST recently listed on a leading exchange. Its initial performance can be described as a mixed bag—some are happy, others are worried. This government-backed stablecoin project has attracted widespread market attention since its launch, but its price movements and trading activity reveal some interesting signals.

From a technical perspective, this token experienced significant volatility in a short period. It dropped from 0.0121 to 0.01147 within an hour, a decline of over 5%. For a coin that claims to be stable, this is somewhat unsettling. The 12-period RSI indicator is in the oversold zone at 24.62. If the anchoring mechanism can hold, there may be opportunities for a short-term technical rebound.

The exchange has added support for features like Earn, Buy Crypto, and Convert, enhancing user convenience. Interestingly, the high trading volume in the early stages sharply declined after the price fell, indicating that market participants' enthusiasm is cooling off or that they are adopting a wait-and-see approach.

As the first national-level stablecoin implemented on a mainstream public chain, KGST represents a step toward institutional adoption of crypto assets. However, investors need to recognize the reality—its 1:1 peg primarily positions it as a medium of exchange, and those seeking capital appreciation may be disappointed. While overall market sentiment remains optimistic, the shrinking trading volume suggests the market is gradually moving from initial hype to rational evaluation.