Kaspa Daily

Kaspa mVRV is at 0.784, back below the fair-value line of 1. In plain terms: the average KAS holder is currently underwater on their cost basis. The market is pricing the network below what holders collectively paid for their coins. Historically for $KAS , readings this low have sat near the bottom of the metric's range. That doesn't guarantee a bottom, it just means price is cheap relative to what the network paid, not relative to where it's going.

Top Kaspa holder Entity X continues to accumulate. The wallet added another 6.8M $KAS in its latest transactions, including inflows from multiple exchanges such as Bybit, Gate. io and Bitget. Entity X now holds approximately 1.47 billion KAS #Kaspa #KAS

Two weeks since Toccata went live on $KAS mainnet. I checked the actual developer numbers instead of the vibes. Here's what the data says: - New Kaspa repos on GitHub: 39 in July 1–14 alone, vs 58 in all of June. Fastest monthly pace this year (March was 52, April 78, May 70). - Covenant-specific repos running at roughly 2x the pre-fork rate. - Silverscript: 21 forks against 42 stars, a 1:2 ratio means people are cloning to build, not bookmarking. 15 PRs/issues in the last three weeks. What actually shipped in 14 days: the first covenant explorer (kascov), a covenant-based KAS vault, a native L1 covenant token, a covenant pattern library, a wallet standard, a Swift SDK, a testnet raffle dApp, several other projects are under active development Most interesting pattern: three independent projects converged on the same idea, covenants as spending guardrails for AI agents. An x402 payment protocol binding, two agent wallets where the AI can only spend inside covenant constraints. Nobody coordinated that. And the community just voted $25K toward an AI agent hackathon at Imperial College targeting 1,000+ devs. The agentic-payments thesis is forming bottom-up. Core isn't idle either: Silverscript pushed commits this week, template hash hardening, reproducible builds. That's pre-production housekeeping, not feature chasing. Meanwhile discussion has shifted from price to fundamentals: the $6M developer fund and covenant atomic swaps are the topics now. Caveats, because they matter: Silverscript is unaudited and still landing breaking changes. Devs report RPC friction on deployment, up to 11 retries in some cases. And absolute numbers are small: this is dozens of motivated builders, not thousands. No major outside team has announced a covenant product yet. But two weeks in, the shape is clear: infrastructure activated, tooling hardening, and builders showed up without being paid to. The Q3 question is whether that compounds. #Kaspa #KAS

Over 82% of Kaspa circulating supply hasn't moved in 3 months or more, an all-time high for the metric. That leaves less than a fifth of all $KAS changing hands over the past quarter. The inactive share has been grinding higher for over a year, with each pullback shallower than the last.

Kaspa's 30-day rolling volatility has fallen to just 55%, one of the lowest readings ever recorded for the network. Historically, volatility compression doesn't last forever. The longer it persists, the more closely traders tend to watch for a significant move once the range eventually breaks. $KAS

Kaspa volatility just hit the 5th percentile of its entire history. The 30-day reading sits at 56% (one of the lowest on record) deep in the low-volatility regime, well under the 88% threshold that marks the bottom third of readings. Price swings this quiet have been rare for $KAS . Historically, compression like this doesn't resolve sideways, it precedes expansion

$KAS realized price sits around $0.07, while market price trades near $0.03, less than half of it. Realized price is the network's average cost basis, roughly what the typical holder paid. With market well below it, the average holder is underwater — coins changing hands for less than they were bought for. The gap has held all year: realized drifting slowly lower, market chopping in the $0.027–$0.040 range without ever closing it. The market trading this far under realized is historically a bottom-region signal. It's the kind of reading that shows up in the colder, late stage of a cycle, supply held at a loss, sellers largely exhausted. It doesn't call a bottom precisely or put a timeline on one. It just says most coins are held below cost, and have been for a while.$KAS

Wallet 17 added roughly 1.01M $KAS over the last 24 hours, four inbound transfers between 172K and 369K, all from Gate .io and MEXC. Balance now sits at about 130.3M KAS (~$3.83M).

Kaspa exchange flows remain firmly negative, with more $KAS continuing to leave exchanges than enter them. Over the past month, exchange outflows have consistently outweighed inflows, suggesting holders are moving coins into self-custody rather than positioning them for sale. The latest data extends a trend that has been building for several weeks, with some of the largest outflow days occurring near recent price lows. #Kaspa #KAS

Top Kaspa wallet has added another 5.2 million $KAS, continuing a pattern of accumulation seen in recent weeks.

The latest purchase comes as Kaspa trades near key support levels, with the wallet consistently increasing its holdings during periods of market uncertainty. $KAS

Kaspa network hashrate took a sharp dip this week before snapping back. It slid from around 400 PH/s early in the window down to a low near 270, then recovered hard to 340.85 PH/s currently, most of the drop retraced in a day or so.

The dip lines up with Humpool winding down, with miners switching their operations to other pools. $KAS

Kaspa just saw its biggest exchange outflow in 90 days. That last bar drops to around -60M $KAS — the deepest single day on the whole chart, coins walking off exchanges instead of onto them. #Kaspa #KAS

Kaspa whale activity is showing signs of a reversal. After weeks of net distribution, large holders have shifted back into accumulation, with the 30-day net flow turning positive at +77.35M $KAS #Kaspa #KAS

$KAS 30-day volatility is sitting at 78.1%, well under its historical average of 104.6%. That's the annualized rolling measure of how much the price swings. The reading has spent the recent stretch below the long-run mean, a long way down from the 191.9% peak seen earlier in the chart's history. Price has been grinding in a tighter range rather than making the violent moves that defined the busier periods. Low volatility doesn't point a direction, it just means the market has gone quiet. Coiled ranges like this don't tend to last indefinitely; historically, calm stretches give way to expansion. #KAS #Kaspa

Kaspa mVRV has dropped to 0.794, the model reads that as undervalued. mVRV stacks what the supply is worth now against what holders actually paid. Below 1 means the average holder is underwater, price is trading beneath cost basis. At 0.794, that's where $KAS sits, far from the frothy 2.0 zone and closer to where past cycle bottoms have formed. It's not a timing call. It just says coins are changing hands below what the market paid for them.

The number-one $KAS wallet just added more. The address, tagged "Entity X" and ranked number 1, pulled in roughly 1.49M KAS from Bybit, confirmed, bringing its balance to about 1.459B KAS ($41.2M).

$KAS drawdown from its all-time high is now within a hair of the deepest level on record. The current reading sits at -86.3%, against a max drawdown of -87.0%, price is roughly where it has bottomed before, measured against the $0.2075 ATH. #Kaspa #KAS

Whales have tipped back into distribution. Whales have tipped back into distribution. After a brief green patch a few days ago, wallets holding over 10M KAS are net sellers again, the rolling 30-day flow now reads -35.40M $KAS The latest move isn't as steep as the worst of the June selling, but the direction has clearly turned again. #KAS

The rank-17 whale keeps stacking. The wallet now holds 118.83$KAS ($3.46M). The wallet pulled in another ~1M in the last 14 hours alone.
#KAS #Kaspa

Kaspa price is approaching a test of the 30 MA resistance after stabilizing near recent lows. Moving averages often act as short-term trend levels, making this an area to watch for market direction. $KAS #Kaspa #KAS