Kaspa has been quiet since its brief rally around two weeks ago. Prices pulled back, and some users might have worried that momentum had faded. On-chain data, however, paints a different picture. The largest wallets, often called whales, are becoming more active, showing signs of growing confidence in KAS.
Updates from Kaspa Builders, a KAS page on X, highlight activity among the top 10,000 KAS addresses. Over the past 24 hours, inflows have shifted toward private and diversified accumulation rather than being dominated by exchange wallets. The largest single inflow reached 10.48M KAS, a significant jump from previous days.
Analyst Pumpius notes that this kind of activity signals structured accumulation rather than panic buying. PionexUS, Bybit, KuCoin, and Bitget wallets led the way, each adding millions of KAS to their holdings. Coordinated activity across multiple PionexUS wallets caught the eye, suggesting strategic accumulation patterns.
📊 Kaspa Daily Whale Activity — Top 10 Buyers & Sellers (2025-12-02)
— Kaspa Builders (@KaspaBuilders) December 2, 2025
Here is today’s Top 10 Buyers vs. Top 10 Sellers among the Top 10,000 Kaspa addresses — revealing a fresh 24h snapshot of how major wallets positioned themselves across the Kaspa network.
🟩 Top 10 Buyers… pic.twitter.com/odBgE0AN5e
KAS Sellers Concentrated in Major Exchanges
While accumulation is rising, outflows remained concentrated in major exchange wallets. Bybit led with 13.9M KAS sold, followed by Gate.io, MEXC, and Kraken. Pumpius points out that this is typical liquidity rotation, not a selloff. Large exchange wallets often move tokens to balance liquidity and trading needs, while private holders continue building positions.
The contrast between concentrated exchange selling and organic private accumulation creates a subtle shift. Net flows lean slightly toward accumulation, which supports a narrative of growing whale confidence despite recent price dips.
Analyst Kaspa Builders suggests that coordinated whale activity can be an early signal before price charts reflect it. Private wallets accumulating steadily indicate long-term confidence in KAS fundamentals. Outflows concentrated on exchanges imply that sell-side pressure is manageable.
Steady KAS Accumulation Signals Confidence
Today’s snapshot shows a slightly accumulation-leaning flow with balanced buy and sell volumes. Pumpius emphasizes that whales are not chasing hype but are methodically adding to their positions. This careful behavior can stabilize KAS price in the near term while building long-term foundation for growth.
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Overall, the combination of private-wallet accumulation and exchange-led liquidity rotation suggests that Kaspa whales are positioning themselves strategically. The market may not react immediately, but these moves create a stronger base for potential upward trends.
The story of whale behavior continues to unfold, and following these trends can provide a clearer picture of KAS’s direction. Watching coordinated accumulation and exchange rotations may offer insights long before prices reflect these moves.
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