Kaspa is still sliding. It’s down another 0.68% in the last day to $0.02854. The whole crypto market is cooling off, Bitcoin dropped 1.25%, and that’s pulling everything else down with it. Kaspa just doesn’t have anything going on right now that could turn things around.
Trading is calm too. People in the Kaspa community are cautiously hopeful, but that hasn’t turned into actual buying yet.
But if you dig into the on-chain data, things get a little more interesting. Kaspa’s MVRV ratio has fallen below its fair-value mark. Historically, when that happens, prices have been on the cheaper side.
And here’s another thing, the biggest holder outside of exchanges has been piling up millions of KAS. Makes you wonder if the big players are getting ready for something.
What you'll learn 👉
Why Kaspa Is Trading Below Its Fair Value
Kaspa’s latest on-chain data points to a network trading below what its holders collectively paid for their coins. The Market Value to Realized Value (MVRV) ratio has fallen to 0.784, below the fair-value level of 1, meaning the average KAS holder is holding coins at a loss.
Kaspa mVRV is at 0.784, back below the fair-value line of 1.
— Kaspa Daily (@DailyKaspa) July 16, 2026
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… pic.twitter.com/sTWGnF3UgF
An MVRV reading below 1 does not guarantee the Kaspa price has reached its bottom. It simply shows that the market values the network below the aggregate cost basis of its holders. Historically, KAS has entered some of its cheapest valuation zones whenever the metric has traded at similar levels, making this an area many long-term investors monitor closely.
The chart also labels the network as “Undervalued”, with Kaspa’s market capitalization standing near $780 million. Even though valuation metrics alone cannot predict price direction, they provide context for how the market is pricing the asset relative to its historical holder cost basis.
Why the Biggest Kaspa Holder Keeps Buying More KAS
Large holders appear to be taking advantage of that discounted valuation.
On-chain data shows Entity X, the largest non-exchange holder on the Kaspa network, has increased its holdings to 1.47 billion KAS, valued at $42.9 million. That cements its position as the biggest known holder outside centralized exchanges.
Kaspa Entity X Now Holds 1.47B $KAS
— BSCN (@BSCNews) July 16, 2026
Top-tier holder Entity X increases its total position to 1.47B $KAS ($42.9M), solidifying its status as the largest non-exchange entity on the network.
Recent on-chain movements reveal a fresh inflow of 6.8M $KAS sourced from liquidity pools… pic.twitter.com/PrbWiH06XX
The latest accumulation included an inflow of 6.8 million KAS, sourced from liquidity pools on Bybit, Gate, and Bitget. Moving coins away from exchange liquidity into a long-term wallet reduces the immediately tradable supply and often signals conviction from larger investors.
The buying also comes as the Kaspa Unchained ecosystem continues expanding its BlockDAG infrastructure to support growing demand for high-speed, GPU-mined transactions.
Although network growth does not guarantee higher prices, continued accumulation by one of the ecosystem’s largest holders indicates confidence despite the Kaspa price remaining near multi-month lows.
Related Kaspa News: Kaspa Price Could Be About to Explode as 82% of KAS Supply Goes Silent
Kaspa Chart Analysis: Can KAS Build on This On-Chain Strength?
We pulled up the chart, and the price action is still pretty cautious, even though the on-chain data looks encouraging.
Kaspa’s hanging around $0.0285 right now, and the bigger downtrend that started back in late 2025 is still in place. Buyers did step in earlier this week to defend that $0.027 to $0.028 zone, and it bounced a little. But that rebound just hasn’t gone anywhere.
The momentum indicators are giving mixed signals. The RSI is at 41.97, below 50, which means bears still have the upper hand. The MACD is also below zero, but the histogram flattened out, so selling pressure isn’t as bad as it was a few days ago.
For buyers to take control, they need to push back above $0.030 to $0.031. That would be the first real sign things are turning around. But if they can’t hold $0.028, we could see Kaspa drop again and test support down near $0.026.
Kaspa Price Prediction: Where Could KAS Go Next?
For bulls to win, the on-chain strength has to turn into actual buying. If whales keep stacking and buyers can push back above $0.031, Kaspa could run toward $0.034. After that, $0.038 would be the next wall to crack.
But if Bitcoin keeps falling, the bearish picture stays in play. Losing $0.028 would put $0.026 in focus, and a break below that level could send the KAS price toward the February lows.
The most likely outcome is continued consolidation. The combination of an MVRV ratio at 0.784 and 1.47 billion KAS held by Entity X points to growing long-term conviction, but the chart shows buyers have yet to regain control.
Until trading volume strengthens and momentum indicators improve, the Kaspa price may continue moving sideways before its next decisive move.
Frequently Asked Questions
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
