The number 1 KAS wallet just got another 5.41M KAS off Bybit, lifting its balance to ~1.41B KAS (~$42M). Entity X has been holding since June 2024 and is still adding 818 days in.
Kaspa Toccata mainnet process update:
Today we plan to publish the v1.3.0 mainnet pre-release, without activation, for 1–2 days of broader network sanity testing.
Assuming everything looks good, the following release will be v2.0.0, with activation planned for June 30, 4 weeks from today
30-day correlation with BTC has climbed back to 0.91, near the top of its 6-month range. The coupling that loosened through March, when correlation fell toward 0.20 has fully reasserted.
Price has drifted to ~$0.030 as the correlation tightened, so $KAS is tracking BTC's direction quite strongly at the moment.
chart is available at https://t.co/2YDXC8JzLB
The late-April rebound has faded. NUPL rolled over from ~0.50 back toward 0.30, unwinding most of the spring recovery, with price sliding alongside it toward the lower range.
Net unrealised profit is thinning, fewer coins held in gain than a month ago. At ~0.30, NUPL sits in the lower optimism/anxiety band, just above the 0.25 hope/fear threshold.
you can check this and other charts at https://t.co/2YDXC8JzLB
$KAS/BTC at 0.4148e-6, ranging flat around the 0.41–0.42. Price has gone sideways here.
The RSI is the more interesting part. While price holds flat, RSI is carving higher lows, early troughs near 30 have lifted to the high-30s/low-40s, with the smoothed line sloping up. That’s a bullish divergence: selling momentum is fading even though price isn’t falling further.
The read: downside pressure is easing inside the range. But divergence is a setup, not a trigger, it needs a break above the range to confirm.
47.64% of circulating $KAS hasn’t moved in over a year — a new high for the metric, up from around 15% in late 2023.
The contrast with price is the whole story. The 1y+ dormant share has climbed steadily through the entire stretch where price fell from ~$0.20 toward $0.03. Long term holders aren’t selling into weakness; they’re sitting through it.
Nearly half the supply has now gone untouched for a year or more.
Igra TVL held around $600–700K for most of the month, then jumped near-vertically to $1.96M at the end, roughly a 3x off the prior baseline, lining up with the Kaskad launch that brought extra TVL into ecosystem
$KAS volatility is sitting low — 30-day rolling vol at 60.1% against a historical average of 105.6% and a peak near 192%. Running close to half its typical level.
The compression matters because of the backdrop: price has drifted lower across the same stretch, conviction has drained from both sides.
These phases don't last. They resolve into a larger move once volume returns, the chart alone won't tell you which way though.
The kaspa community has been loud.
We've been listening👂
Now we're making it official!
If you want @kaspaunchained on Cypherock, here's your one shot to be counted.
Fill the form. Share it with every Kaspa holder you know.
This isn't forever open.
👉 https://t.co/OO1LTjFSg2
The $KAS performance is split clean today, four green, four yellow, four red and that's about right for where KAS sits.
Price is the weak spot: down 10.4% on the 30d, 7.4% on the 90d. But cycle score's mid-pack at 58 and Puell's neutral at 0.54. Soft, not washed out.
Mining sends mixed signals. Hashrate up 5.5% on the month, so miners are still here, yet Hash Ribbons just flipped bearish with the 30d under the 60d. Those two rarely sit together.
Derivatives are the clean part. OI at $50.7M is below average, leverage's light, liquidations even at 41% long. Funding positive but nothing stretched waiting to flush.
The flow side is what I'd watch. NVT hot at 85, exchange reserves above baseline, whales down 1.51% on the month. Distribution into stretched valuation isn't a combination you love.
Bearish case is valuation and flows. Constructive case is leverage and the network. Genuinely mixed market conditions at the moment.
A single wallet has accumulated 86.69M KAS over the past 90 days, worth roughly $2.65M, with inflows sourced from multiple exchanges.
The address now ranks among Kaspa’s top 20 holders
The second half of the month has been almost entirely inflows, $KAS moving onto exchanges day after day. The streak capped on the 27th with the largest single-day inflow of the period at roughly 22M KAS.
This follows a stretch of steady accumulation earlier in the month, so the recent flip toward exchanges marks a clear change in direction and increased selling pressure.
$KAS hash ribbons, the 30d and 60d hashrate averages have compressed to almost nothing.
This is the classic miner-stress signal. When the ribbons sit this close together, it means hashrate has flattened out and miners aren't expanding, they're at the margin where adding rigs no longer makes sense at current prices. Hashrate has fallen from over 1M to around 400K across the past year, tracking price lower the whole way.
The bullish and bearish crossovers near April are stacked right on top of each other, which is what compression looks like: no clear directional conviction either way.
Historically, the recovery signal comes when the 30d crosses back above the 60d and the ribbons start expanding again.
HumPool announcement suspension of its mining services. HumPool accounts for roughly 23% of total Kaspa mining and its to be seen where miners will migrate to.
KAS continues to top CoinMarketCap’s community sentiment rankings, holding the number 1 bullish spot on a near-daily basis with bullish votes consistently above 90%.