Some projects in the crypto top 100 are everywhere, yet Kaspa (KAS) remains absent from Coinbase. This has sparked curiosity because KAS is highly active, but still not on one of the largest exchanges. Many are wondering why it has been left out, and analysts and the community are sharing their perspectives.
Coinbase CEO Brian Armstrong has said that listings are free and merit-based, and every asset is evaluated using the same criteria. Despite this explanation, Kaspa has not been listed yet. The Kaspa community has repeatedly questioned this, highlighting that the project seems to meet all technical and market criteria.
🚨 UPDATE: Coinbase's CEO says, "Listings are free and merit-based. Every asset is evaluated against the same standards." pic.twitter.com/wJuXX9qrIF
— Cointelegraph (@Cointelegraph) September 14, 2025
Why Jens Illgner Thinks Coinbase Is Hesitant
Analyst Jens Illgner, also known as Road To Glory Jil, has offered a detailed perspective on why KAS remains unlisted. He points out that Kaspa is the only project in the top 100 without a Coinbase listing, even though it operates at a high level with daily trading volumes between 20 million and 200 million.
Illgner notes that KAS network activity is massive, with almost two million daily transactions compared to Bitcoin’s 396,000 on the same day.
If that were REALLY the case, Coinbase would have listed #Kaspa long ago.
— Jens Illgner – Road To Glory Jil (@JensIllgner) September 14, 2025
It is the ONLY project in the Top 100 that does not have a Coinbase listing, EVEN THOUGH it plays in the top league with a daily trading volume of 20-200 million.
My theory: $KAS would instantly make BASE… pic.twitter.com/4mROhhVMGn
According to Illgner, the main reason Coinbase may be hesitant is that listing KAS could disrupt current systems like BASE transfers. Kaspa’s technology allows fast, scalable transactions, and this might make some existing infrastructure less relevant.
In Illgner’s view, this potential disruption could be why Brian Armstrong and Coinbase are cautious, even though KAS clearly qualifies based on trading volume and activity. He also contrasts this with other projects that were listed early despite having less impact, suggesting KAS’s network could be too advanced to integrate smoothly right now.
KAS Community Questions and Engagement
Kaspa Daily has actively asked Coinbase why KAS has not been listed, showing strong community interest and engagement. The community continues to compare Kaspa’s network activity and market presence to other top projects, emphasizing that KAS is well-positioned for a major exchange listing. Analysts and community members are closely monitoring this situation, as any update from Coinbase could influence market sentiment.
Kaspa price has struggled since 2024, but the network’s high activity, strong trading volume, and engaged community suggest there is potential for a rally. Analysts believe that a Coinbase listing could act as a trigger for the next KAS price increase. The anticipation itself is creating momentum, and investors and enthusiasts are watching closely for any sign of approval.
Kaspa continues to operate at a high level of activity, with transactions far exceeding many other top cryptocurrencies. The combination of an active network, strong trading volume, and an eager community makes the Coinbase listing situation particularly important.
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Jens Illgner’s perspective suggests that technical disruption could be the main reason for the delay, while Kaspa Daily’s engagement shows that the community is ready for the next step. A Coinbase listing could potentially ignite a new wave of interest and impact KAS price significantly.
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