Kaspa Coming after our contract and holder checks finish for this coin. See the Scorecard for every call so far.
What it is
Kaspa is a proof-of-work cryptocurrency, mined like Bitcoin, but built to be much faster. Bitcoin produces one block every ten minutes and throws away competing blocks. Kaspa uses a structure called a blockDAG with a consensus method named GHOSTDAG, which lets many blocks be created at the same time and then puts them in order instead of discarding them. Since the Crescendo upgrade in May 2025, the network produces about 10 blocks per second.
Kaspa launched on November 7, 2021 with no premine, no token sale and no allocation for founders or investors. Every coin has come from mining, which today is done with specialized machines using an algorithm called kHeavyHash. There is no central company or treasury; development is funded by donations and community crowdfunding.
The maximum supply is about 28.7 billion KAS, and most of it has already been mined. Mining rewards shrink a little every month so that they halve once a year. In June 2026 an upgrade called Toccata added covenants and tools for verifying zero-knowledge proofs, giving Kaspa its first base-layer programmability. Apps built on these features are still early.
What can go wrong
- As of mid-2026 Kaspa had no spot listing on Binance, the largest exchange, so trading is spread across smaller venues where liquidity can be thinner.
- Smart-contract style features arrived only in mid-2026, and the app ecosystem built on them is still small and untested.
- Mining now depends on specialized machines from a small number of manufacturers, which can concentrate hashpower.
- With no foundation or treasury, development depends on volunteers and donations, which can slow fixes and upgrades.
Most KAS has already been mined, so new supply is falling fast. The bigger question is whether real use of the network grows now that programmability has arrived.
Safety checks
- Track recordGoodTrading since 2021, about 5 years. It has been through at least one full market cycle.
- Trading activityGood$21.9 million traded in the last 24 hours, 2.1% of its market value. That's enough activity that a normal-size order shouldn't move the price.
- Coins still to comeGood27.77 billion of 28.70 billion maximum coins are in circulation, so about 3% are still to be released. Little new supply is left to hit the market.
- Distance from its peakRed flagDown 82% from its all-time high of $0.2074 in July 2024. Most people who bought near the top have lost most of their money. A big drop doesn't make a coin cheap.
- Past yearFor context−29.3% over the past year, against −25.3% for bitcoin. It has done worse than simply holding bitcoin.
History of trouble and big events
- Nov 2021: Kaspa launched with no premine.
- May 2025: Crescendo upgrade raised block production to 10 blocks per second.
- Jun 30, 2026: Toccata upgrade added covenants and zero-knowledge proof verification.
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