Kaspa has passed Bitcoin in one unusual supply metric as the amount of new KAS entering circulation continues to shrink.
Current data shows approximately 27.8 billion KAS in circulation out of a maximum supply of roughly 28.70 billion.
That means around 96.85% of all KAS that can ever exist has already been mined.
Bitcoin, by comparison, currently has about 20.1 million BTC in circulation from its hard cap of 21 million, putting its mined supply at approximately 95.76%.
In percentage terms, Kaspa has therefore moved slightly ahead of Bitcoin.
Less Than 1 Billion KAS Remains to Be Mined
Based on the current figures, only around 905 million KAS remains outside circulation.
That is approximately 3.15% of Kaspa’s maximum supply.
Kaspa was designed with an unusually aggressive emission schedule. Its mining reward declines every month by a factor of 2^(-1/12), effectively cutting issuance in half every year instead of using Bitcoin’s four-year halving model.
Kaspa’s official tokenomics documentation had already projected that about 95% of the total supply would be mined by July 10, 2026.
INSIGHT: @Kaspa has overtaken @Bitcoin in terms of the percentage of its maximum token supply already mined, reaching 96.85% compared with BTC’s 95.73%. This means that less than 3.2% of the total $KAS supply remains to enter circulation through mining. The milestone highlights Kaspa’s progress toward its maximum supply limit. With issuance nearing completion, scarcity and long-term tokenomics are likely to remain key topics among the Kaspa community.
— Bitcoin China (@BitcoinChina_) November 8, 2026
The network also had no premine, presale or founder allocation, meaning the circulating KAS supply has been created through proof-of-work mining since mainnet launched in November 2021.
Bitcoin’s remaining issuance is intentionally much slower. Around 4.24% of BTC still remains to be mined, with the final fractions of Bitcoin not expected to enter circulation until around 2140.
Read also: Kaspa Price Warning: Bulls Need to Defend THIS Level Now
Does This Make Kaspa Scarcer Than Bitcoin?
Not necessarily.
The percentage already mined tells investors about future supply growth, but it does not determine scarcity by itself.
Bitcoin has a maximum supply of only 21 million coins and a market capitalization above $1.5 trillion. Kaspa has a maximum supply above 28 billion coins and currently trades near $0.029, giving KAS a market value of roughly $820 million.
The more useful takeaway is that Kaspa’s inflation from mining is rapidly becoming less important.
With nearly 97% of supply already circulating and mining rewards continuing to decline every month, future KAS price performance will depend less on absorbing large amounts of newly issued coins and more on actual demand from investors, miners and activity across the Kaspa ecosystem.
That could become increasingly relevant if demand eventually recovers.
Kaspa’s price is still down more than 85% from its 2024 all-time high around $0.2075, so shrinking issuance has clearly not been enough on its own to support price during a weak market.
Kaspa has now distributed a greater percentage of its maximum supply than Bitcoin, and with only about 3.15% of KAS left to mine, its transition from an issuance-heavy asset toward an almost fully circulating supply is moving quickly.
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