Kaspa (KAS) Price Today

Kaspa's all-time high is $0.2074, reached on July 31, 2024. At today's price of $0.0266, KAS trades 87.2% below that peak. Its lowest recorded price was $0.000171 on May 26, 2022.

Over the past 30 days KAS has moved −13.75% and over the past 90 days −21.33%.

Circulating supply is 27,613,161,439 KAS , against a maximum supply of 28,704,026,601 KAS. KAS is capped at 28.7 billion, and its deliberately compressed emission schedule means roughly 95% was already mined by mid-2026, with new issuance approaching zero around the end of 2026. New-supply pressure is fading fast — but so is the mining subsidy, so transaction fees must eventually carry the network's security budget.

What moves Kaspa's price

• Protocol milestones: the May 5, 2025 Crescendo hardfork took the block rate from 1 to 10 blocks per second on the rewritten Rust node, and the next consensus upgrade, DAGKnight, remains on the roadmap as of mid-2026 — Kaspa's thesis is throughput leadership among proof-of-work chains, so shipped-versus-delayed is the recurring repricing event.
• The smart-contract buildout: Kaspa's base layer has no smart contracts. EVM contracts arrived via the Kasplex zkEVM layer-2, which launched its mainnet in September 2025, with a second L2 (Igra) behind it — whether real applications and fees accumulate on these young rollups decides if KAS earns demand beyond mining and payments.
• Exchange access: despite a top-100 market cap, KAS has no spot listing on Binance or Coinbase (both offer only perpetual futures, Coinbase's since February 2025); Kraken is the main top-tier spot venue and most volume sits on mid-tier exchanges, so listing news is a persistent, outsized catalyst.
• The emission wind-down: block rewards decay smoothly every month, and with ~95% of supply mined by mid-2026, structural miner sell pressure keeps shrinking — while the open question of a fee-funded security budget grows.
• Mining economics: dedicated kHeavyHash ASICs from IceRiver (April 2023) and then Bitmain made GPU mining obsolete by late 2023, so hashrate now follows ASIC shipment cycles and miner profitability, which govern how much freshly mined KAS reaches the market.

About Kaspa

Kaspa launched its mainnet on November 7, 2021, implementing the GHOSTDAG protocol devised by Yonatan Sompolinsky — whose earlier GHOST research is cited in the Ethereum whitepaper — with co-author Aviv Zohar. Instead of a single chain that orphans competing blocks, Kaspa's blockDAG incorporates parallel blocks and orders them by consensus, letting a proof-of-work network run at block rates a linear chain cannot: one block per second at launch, ten per second since the Crescendo hardfork of May 2025.

Development began at DAGlabs, a startup funded with about $8 million led by Polychain, but the coin itself was fair-launched: no premine, no ICO, and CPU-only mining at genesis, with DAGlabs' own early mining (roughly 800 million KAS, about 3% of supply) done with the same public software. The project has been community-run since early 2024. Its base layer deliberately excludes smart contracts; programmability is arriving through layer-2 rollups such as the Kasplex zkEVM, whose mainnet went live in September 2025, while the DAGKnight consensus upgrade remains the headline roadmap item.

KAS tokenomics

Supply is capped at 28.7 billion KAS, distributed entirely through mining — no premine, ICO, or foundation allocation. The emission curve is aggressive by design: rewards halve once per year but smoothly, dropping by a factor of (1/2)^(1/12) each month, so roughly 95% of all KAS had been mined by mid-2026 and issuance approaches zero around the end of 2026. That compression — intended to emit most coins before ASICs arrived — is also the standing criticism: the bulk of supply went to miners in the network's first few years, when awareness was lowest.