Kaspa (KAS) is showing interesting changes in the market as over 70% of tokens have not changed hands for more than three months, indicating long-term holding by holders. This situation may influence the token price in the near future.
Current Situation of Kaspa Supplies
According to Kaspa Daily, over 70% of the circulating supply of KAS has not changed hands in over three months. This indicates that holders prefer to lock in their assets. The trend of dormant supply has significantly risen from 59% in December 2024 to 70% in June 2025, coinciding with the price rise from $0.06 to nearly $0.30.
Short Positions and Their Consequences
Coinglass data indicates a concentration of substantial short positions just above the $0.09 level. Liquidation of these positions may reach $12 million if the KAS price continues to rise. Minimal resistance begins at the $0.091 mark, which may lead to a sharp price increase upon breaching this threshold.
Market Structure and Whale Accumulation
The market shows a structure where low circulating supply intersects with risks associated with leverage. Recently, nine new wallets with over 10 million KAS have emerged, indicating quiet accumulation by big players. This combination of short positions and long-term holding creates a complex scenario in the market.
The situation with Kaspa (KAS) requires careful analysis as the growing dormant supply and the potential for liquidation of short positions at the $0.09 level may lead to significant market movements in the coming weeks.
