Kaspa’s on-chain metrics are painting a clear picture of rising conviction among its investor base. Across all major timeframes, the percentage of circulating supply that remains untouched continues to break records, signaling a shift toward long-term holding and reduced speculative activity.
As of the latest data:
- Nearly 70% of Kaspa’s circulating supply hasn’t moved in over 3 months
- More than 52% hasn’t moved in 6+ months
- Over 32% of coins remain dormant for at least 1 year
- Almost 13% haven’t moved in 2+ years
These are historic highs across the board, and they point to one clear trend: investors are choosing to hold, not trade.
This rise in long-term holding coincides with several developments within the Kaspa ecosystem. The Kasplex smart contract testnet is progressing smoothly, with early deployments already underway, a major step toward enabling DeFi on Kaspa’s blockDAG architecture.
Adding to the buzz, rumors have surfaced of initial meetings between the Kaspa team and Circle, the issuer of USDC, regarding a potential stablecoin integration. While nothing is confirmed and these discussions are reportedly in early stages, even the possibility of USDC launching on Kaspa could mark a significant milestone for adoption and legitimacy, Together, these factors are helping reshape market perception of Kaspa from a speculative altcoin to a maturing ecosystem with growing developer activity, institutional curiosity, and strong grassroots support.
With exchange balances trending downward and a shrinking pool of actively circulating KAS, the supply side continues to tighten. If demand follows, the stage may be set for significant long-term upside.
