Harold Moller
513 posts





@brt2412 Not really. Does Gold settle $5 transfers?

















Wallet #1 Continues Aggressive KAS Accumulation Over the past several months, the holder of Kaspa’s largest address (ending in m7n4uk5a, labeled “Wallet #1” in the animation) has been aggressively accumulating KAS. This holder’s demand for KAS is so strong that even if every miner sold all newly mined KAS exclusively to them, it still wouldn’t meet their demand. They must therefore acquire some of their KAS from existing holders, not just from new supply. Notice that Wallet #1’s net accumulation surged in the aftermath of the October 10 market crash. While some existing holders sold or were liquidated, Wallet #1 was aggressively accumulating.

got em zcash trillions


$KAS Security Budget Analysis עברית אחרי אנגלית 👇 Continuing the momentum from my recent statistical research, this time I looked into Kaspa’s security budget - a PoW-based asset. I ran into a few challenges (most APIs were paid, so I had to find a workaround, and a technical upgrade whose effect mathematically cancels out), but here’s the result. As the chart shows, the daily security budget peaked at roughly $2M per day, before collapsing to just $145k - a ~93% decline. This drop is driven by a combination of a sharp price correction (from $0.20 to $0.045) and an issuance schedule that effectively behaves like an annual halving. This isn’t unprecedented - Bitcoin saw similar dynamics in its early days. But Bitcoin is the exception, not the rule. Most PoW alts don’t survive more than one or two cycles. I wouldn't go as far as declaring Kaspa dead, but there’s no doubt these are challenging times for the miners. The takeaway for new PoW protocols is simple: make sure you have enough runway to fund security. cc: @KaspaSilver @moshikrl I’d appreciate your take


Kaspa’s Largest Wallet Accumulated More Than Double the New Supply of KAS in October In October 2025, the holder of Kaspa’s largest address (ending in m7n4uk5a, hereafter “Wallet #1”) accumulated more than twice the total coinbase emissions generated that month. On-chain data show that most inflows to Wallet #1 originated from an exchange that publicly stated that it is not associated with the address. This means Wallet #1’s accumulation concentrated KAS ownership, as the inflows were not simply the same owner moving funds between two addresses they controlled. Instead, KAS previously held by multiple entities became consolidated under a single holder. The fact that this occurred during the same period in which the percentage of circulating supply held by the top 0.01% of addresses declined indicates that, even as Wallet #1 was increasing KAS concentration, the network as a whole was redistributing KAS from large addresses to smaller ones at a pace faster than Wallet #1 could offset. This means that despite Wallet #1's herculean attempt to centralize KAS ownership last month, the network's profound tendency toward decentralization proved resilient enough that redistribution still outpaced its accumulation. The chart shows that October 2025 is the first month in which Wallet #1 accumulated KAS faster than new supply came into existence. Wallet #1's inflows spiked in the days following the October 10 market crash caused by Binance’s price oracle failure. The extreme price drop likely allowed Wallet #1 to accelerate its accumulation so drastically. Given Kaspa’s rapidly declining new supply, an accumulation rate of this magnitude is unsustainable over the long term and substantially increases the risk of a major supply shock. With fewer new coins entering circulation each month, sustaining such inflows requires increasingly large volumes of KAS to be drawn from existing holders. Yet, on-chain data show that holders’ use of KAS for value storage increases over time, meaning the KAS available from existing holders tends to shrink with time. In the years ahead, the magnitude of Kaspa’s supply shocks will likely be among the biggest ever observed in history. These shocks will occur concurrently with the opposite dynamics in global fiat currency supply (fiat currency supply will dramatically rise). The combination of these diametrically opposed dynamics will result in extreme deflation in the value of fiat currencies when measured in KAS. This is true even if demand for KAS remains constant. Any increase in demand for KAS would further amplify and accelerate that deflationary pressure, particularly since KAS supply is totally inelastic. For additional detail on the entity most likely connected to Wallet #1, you can see our earlier report linked below.




Market makers short altcoins - Coinbase







