Kaspa's price surged 20% last week, drawing attention to the activity surrounding the second-largest wallet, possibly owned by Binance.
Identifying the Wallet Owner
Analysis reveals that the second-largest Kaspa wallet is likely owned by Binance. This conclusion is based on regular deposit patterns typical for major exchanges. Key funds sources include GateIO, discounting American entities from ownership.
Binance's Accumulation Strategy
Binance began accumulating Kaspa in October 2023 using GateIO and Bybit platforms. By early 2025, Binance controlled over 70% of new token supply. Such asset concentration may soon create scarcity, complicating further accumulation. Binance actively monitors token flows and employs various strategies to boost its reserves.
Reaching an Accumulation Limit
Binance may reach a Kaspa accumulation limit soon. At the current accumulation rate, the wallet approaches the point where active resources for purchase are insufficient. A resulting scarcity condition could impede further accumulation efforts.
Considering all the given analysis, Binance appears to be the owner of the second-largest Kaspa wallet, though official confirmation is pending.
