
Kaspa on-chain data is lighting up again, and this time it’s not retail traders making moves, it’s the whales. According to Kaspa Daily, one of the network’s largest wallets just pulled off a massive accumulation event, adding 154 million KAS directly from Gate.io.
That transaction alone pushed its total holdings past 1.1 billion KAS, making it the single biggest Kaspa wallet in existence.
The identity of the wallet isn’t confirmed, but the scale of the move screams institutional involvement. And when that kind of money starts flowing in, it usually means one thing, smart money is positioning ahead of something big.
🚨 Wallet Update:
— Kaspa Daily (@DailyKaspa) October 21, 2025
The address that used to be Kaspa #2 largest holder just added 154 million KAS, funds that came directly from Gate io.
It has now become the top Kaspa holder with total balance exceeding 1.103 billion KAS.
Ownership remains unknown, but the scale of the… pic.twitter.com/7eivdFea4c
What you'll learn 👉
Whales Are Quietly Loading Up
It’s not just one wallet turning heads. The number of addresses holding at least 1 million KAS has been climbing again, hitting just over 3,040 this week.
That’s a meaningful jump from earlier this month and shows that medium-sized investors, often early institutional players, are loading up at current prices.
In simple terms, this kind of accumulation signals growing confidence. When multiple whales and large holders are buying, it creates what traders call a “supply squeeze”, fewer coins left on exchanges while demand keeps building. It’s the kind of setup that often precedes big price moves.
The number of addresses holding 1 million $KAS or more is rising again, indicating that medium-sized investors are accumulating at current price levels. pic.twitter.com/2skYw4sCEU
— Kaspa Daily (@DailyKaspa) October 21, 2025
Signs of a Supply Shock Are Emerging
On-chain balance charts back that narrative perfectly. Total holdings among top Kaspa wallets just shot up from roughly 960 million to over 1.1 billion KAS in a single day. That’s not typical trading behavior; it’s a coordinated accumulation, likely by large entities or funds.
When that much supply leaves exchanges and ends up in long-term wallets, it reduces immediate selling pressure. Combine that with the steady growth in holder addresses, and Kaspa is setting up for what could turn into a classic supply crunch.
This is exactly how bull runs start quietly, not with hype, but with accumulation behind the scenes.
Even as the broader market cools off, Kaspa’s sentiment remains one of the highest among top crypto projects. CoinMarketCap data still ranks Kaspa inside the top 10 most bullish coins by community sentiment, and it’s been holding that spot for months.
Kaspa remains firmly in the top 10 most bullish projects by sentiment on CoinMarketCap and it’s been there consistently for months.
— Kaspa Daily (@DailyKaspa) October 21, 2025
Market prices can fluctuate, but strong fundamentals and community conviction tend to stand the test of time.
Holders seem focus on what’s being… pic.twitter.com/Fu0gmGWJzP
That level of consistency shows conviction. Investors aren’t chasing quick pumps; they’re focused on Kaspa’s fundamentals, its DAG-based architecture, fast block times, and increasing developer activity. It’s becoming clear that holders are betting on Kaspa’s long-term vision rather than short-term speculation.
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KAS Price Outlook: What Happens Next
Kaspa sits around $0.09, with bullish momentum slowly building again. If accumulation continues at this pace, the price could gain more stability above current levels and potentially make another attempt toward the $0.10–$0.11 zone in the near term.
Whale accumulation like this typically acts as a backstop for volatility. When big wallets are buying dips, retail investors tend to follow, and that can quickly snowball into a rally.
However, it’s also worth noting that large inflows sometimes signal preparation for longer-term holds, not immediate breakouts. If that’s the case here, Kaspa price might consolidate before making its next big move.
Moreover, Kaspa’s whales are back in accumulation mode, and the data shows it’s not a coincidence. From the sharp rise in 1M+ KAS wallets to the massive 154 million KAS transfer, everything points to renewed confidence in the project’s long-term outlook.
Whether it’s institutional buyers or early backers doubling down, one thing is clear, big players are taking control of Kaspa’s supply again.
If history is any guide, these quiet accumulation phases tend to end the same way: with a strong upward move once the market catches on.
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