Kaspa is experiencing a notable surge in market activity as anticipation builds for the launch of smart contracts on its Layer 2 network, Kasplex, scheduled for August 31st.
In the past 24 hours alone, Kaspa recorded $250 million in spot trading volume and over $500 million in derivatives — marking one of its most active trading days to date. The project’s market capitalization has now reached approximately $3 billion, drawing increased interest from both retail participants and leveraged traders.
At the same time, around 50 million KAS exited major exchanges including Gate.io, KuCoin, and MEXC yesterday. This points to ongoing accumulation, while exchange-held supply has fallen to its lowest average levels since December 2024, suggesting reduced near-term sell pressure.
All of this comes just weeks before Kasplex brings smart contract functionality to the Kaspa ecosystem — a key milestone that could reshape its use cases and expand developer activity across the network.
