kaspa

By The Kaspa Report on X 

Those who own the most #Kaspa continue to buy more of it regardless of its price.

This chart shows the total amount of #KAS held by the top 10% of meaningful Kaspa addresses.  Over the past year, these addresses have increased their total holdings by more than 15%. We can infer several things from this trend. 

First, we can infer that, in the aggregate, those who hold the most #KAS continue to buy more.  This chart therefore reflects that large holders believe the price of $KAS will continue to go up, as this is the main reason why they would continuously buy more.

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Notes about the data:

1. A meaningful address is an address that holds more than 1,000 Sompi (or 0.00001 KAS).  Wallets with such a small amount of Kaspa are not considered to be meaningful because they do not hold enough Kaspa to transact.

2. This chart shows the top 10% of addresses, which is distinct from the top 10% of holders.  This is because a single individual can hold enough #Kaspa to be in the top 10% of holders but may have dispersed their $KAS across many addresses such that they're no longer detected in the top 10% of addresses.  However, the above statements are very likely also generalizable to the top 10% of holders as well. 

3. Included in the top 10% of meaningful addresses are addresses that contain funds belonging to more than one individual (e.g. exchange wallets). Known exchange wallets only account for about 10% of the total #KAS held by the top 10% of addresses. Exchange activities therefore do not have a significant impact on the aggregate trends of the largest holders.

Moreover, the chart suggests that those who hold the most #Kaspa are largely unaffected by its price when making the decision to buy more, as they generally tend to accumulate $KAS at every point in time at nearly the same pace (which can be inferred due to the straightness of the upward sloping line). 

This chart is also reflective of the fact that #Kaspa was fair-launched. That is to say, there is no pre-allocated #KAS that is being dumped by large holders. Everyone who possesses $KAS must have expended energy and/or resources to acquire it.

Additionally, on the aggregate level, this chart reflects that the largest holders are not taking profits.  This is likely because they view taking profits as merely trading down superior money (KAS) for inferior money (fiat).  In this regard, we can say that this chart reflects a growing number of individuals have moved off the fiat standard and onto a #Kaspa standard, wherein their preferred store of value is now $KAS.