Over the past 90 days, Kaspa has shown a clear shift in ownership dynamics and market behavior. While many smaller holders appear to have taken profits, on-chain data reveals a strong wave of accumulation from mid- to large-sized investors.
Mid to Large Wallets Step In
The number of wallets holding between 100,000 and 1 billion KAS has increased steadily. This trend suggests that while retail investors may have been reducing their exposure, larger players are positioning for the long term.
These mid to large wallets are typically associated with more experienced investors, institutional activity, or long-term believers in the project. Their growing presence supports the narrative of confidence in Kaspa’s future, particularly as the ecosystem expands with new developments in Layer 2 infrastructure and smart contracts.
Over 900 Million KAS Leave Exchanges
At the same time, Kaspa continues to exit centralized exchanges at an accelerating rate. Since reaching peak exchange balances in February, over 900 million KAS has been withdrawn.
Here’s a breakdown of major recent outflows:
- 35M+ KAS withdrawn from MEXC
- 14M+ KAS withdrawn from Gate.io
- 6M+ KAS withdrawn from Bybit
This sustained decline in exchange balances is significant. It reflects increasing conviction among holders who are likely securing their KAS in self-custody wallets. More importantly, it tightens the available supply on trading platforms, reducing sell pressure and setting the stage for potential price appreciation.
Key Technical Signal: 100-Week MA Reclaimed
In addition to on-chain accumulation and exchange outflows, Kaspa has shown strength on the technical side. The price recently closed above the 100-week moving average, a long-term bullish signal.
Currently trading around $0.126, KAS is showing signs of steady consolidation at higher levels, potentially forming a new base for future moves.
Final Thoughts
The combination of reduced retail selling, increased accumulation by larger players, shrinking exchange supply, and positive technical indicators paints a compelling picture for Kaspa. While short-term volatility remains possible, the underlying trends suggest that strategic investors are preparing for long-term growth.
As Kaspa continues to evolve, both as a decentralized Layer 1 and as an emerging smart contract platform, the current accumulation phase may prove to be a pivotal moment in its broader adoption story.
