How Do On-Chain Metrics Reveal Kaspa's True Market Dynamics in 2025?

The article explores how on-chain metrics reveal Kaspa's market dynamics in 2025, highlighting significant growth in adoption and network activity. It addresses key developments like the 150% surge in active addresses and $10 billion transaction volume, suggesting Kaspa's evolving ecosystem mirrors Bitcoin's scale. The text targets crypto investors and analysts, emphasizing reductions in whale concentration with strategic accumulation by major stakeholders. Through a structured analysis of network upgrades and whale behavior, the article argues Kaspa's infrastructure supports sustained user engagement, offering insights into its long-term potential. Key terms enhanced for rapid comprehension include Kaspa, active addresses, transaction volume, and whale concentration.

Active addresses surge by 150% as Kaspa adoption accelerates

Kaspa experienced a remarkable surge in network activity throughout 2025, with daily active addresses climbing above 500,000 in September, a milestone that mirrored Bitcoin's activity levels during the same period. This 150% year-over-year increase in active addresses represents a significant inflection point for the network's adoption trajectory.

Metric Value Significance
Daily Active Addresses (September 2025) 500,000+ Matches Bitcoin levels
Growth Rate YoY 150% Major adoption milestone
Historical Average 15,000-20,000 Pre-2025 baseline

The acceleration in network engagement reflects the confluence of two critical factors driving ecosystem expansion. The BlockDAG upgrade implemented throughout 2025 enhanced transaction throughput and consensus finality, enabling the network to handle increased user participation without congestion. Simultaneously, whale accumulation patterns intensified during this period, particularly surrounding the DAGKnight protocol upgrade excitement in November 2025, when KAS surged 40% amid concentrated institutional positioning.

This organic growth in active participants distinguishes Kaspa's adoption from speculative trading cycles. The network's unique GHOSTDAG consensus mechanism allows parallel block processing while maintaining security, directly supporting the infrastructure requirements for this user expansion. With over 540,000 unique holders and continued protocol enhancements planned through 2026, the network demonstrates sustained momentum in converting active addresses into long-term participants.

Transaction volume reaches $10 billion, signaling increased network usage

Kaspa's transaction volume milestone of $10 billion represents a watershed moment in the network's evolution, demonstrating substantial growth in real-world adoption and user engagement. This achievement reflects the platform's ability to handle significant economic activity while maintaining its core promise of scalability and efficiency.

The network's daily active addresses surged to 510,000, mirroring Bitcoin's current active address count and indicating comparable network health metrics. This expansion occurred alongside 1.02 million daily transactions, showcasing robust ecosystem participation across diverse use cases.

Metric Value Significance
Transaction Volume $10 billion Network adoption milestone
Daily Active Addresses 510,000 Bitcoin-level comparison
Daily Transactions 1.02 million Ecosystem participation
24h Trading Volume $35.71 million Market liquidity indicator

The surge in network activity emerged from multiple catalysts, including the Crescendo hardfork upgrade that increased block processing to 10 blocks per second and recent DeFi ecosystem expansion. On September 14, 2025, Kaspa processed 1.92 million transactions in a single day—its highest volume recorded—processing up to 60 transactions per second, substantially outpacing Bitcoin's seven transactions per second average.

This sustained growth demonstrates Kaspa's technical infrastructure supporting institutional and retail participation simultaneously, validating the GHOSTDAG protocol's effectiveness in scaling without compromising decentralization or security principles.

Whale concentration decreases with top 100 holders now owning 40% of supply

Whale Concentration Analysis in Kaspa

Recent on-chain data reveals a significant shift in Kaspa's holder distribution landscape. According to current metrics, the top 100 holders now control 40% of KAS supply, marking a notable decrease in whale concentration compared to earlier periods when this figure reached 34.276%.

Metric Current Status Implication
Top 100 holders concentration 40% of supply Increased from previous 34.276%
Whale addresses (10M+ KAS) Record low Reduced large holder control
Wallet #1 accumulation Exceeding new supply Concentrated ownership dynamics

This paradoxical trend reflects complex market dynamics. While whale addresses holding 10 million or more KAS have declined to record lows, individual large holders like Wallet #1 have accelerated accumulation, acquiring more than double the new monthly supply in October 2025. This suggests that whale concentration is consolidating rather than dispersing—fewer addresses now control larger portions of the token.

The data indicates that despite KAS experiencing a 60% price decline over four months, strategic accumulation by major stakeholders continues. This persistent buying pressure at depressed valuations demonstrates confidence in Kaspa's technical fundamentals and long-term potential, signaling that informed investors view current price levels as attractive entry points rather than reasons to exit positions.

FAQ

Is kas coin a good investment?

Yes, KAS coin shows strong potential for 2025. Its innovative technology and growing adoption suggest it could be a profitable investment.

What is kas coin?

KAS is a cryptocurrency using BlockDAG architecture and GHOSTDAG protocol for near-instant transactions. It aims to solve blockchain scalability issues with proof-of-work security.

Can Kaspa reach $10 dollars?

Yes, Kaspa could potentially reach $10 with strong adoption, technological progress, and favorable market conditions. This price target is ambitious but not impossible in the long term.

How high will Kaspa go?

Kaspa is projected to reach $0.36 in the 2026 bull run, based on current market analysis and trends.

* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.