What is this?

This chart displays the total amount of KAS held by addresses at each balance tier over time. While the address distribution chart counts how many addresses exist at each level, this supply distribution chart shows how much KAS those addresses collectively hold. This distinction is critical: a network could have thousands of addresses in the ≥1M KAS tier holding vastly different amounts, and only the supply view reveals the true concentration of wealth.

Supply distribution is the closest on-chain approximation to a Gini coefficient analysis for a cryptocurrency. It reveals whether Kaspa's wealth is concentrated among a few mega-whales or spread broadly across many participants. For a fair-launch, proof-of-work coin like Kaspa (no pre-mine, no ICO, no venture allocation), you would expect gradually improving distribution as early miners sell and new participants accumulate over time.

Each line represents the cumulative KAS balance held by all addresses meeting a given threshold. The gap between lines shows how much supply is exclusively held within each tier band — for example, the difference between the ≥100K and ≥1M lines tells you how much KAS is held by addresses with balances between 100K and 1M KAS.

How to use this data

The primary use case is identifying supply concentration risk. If the top tier (≥1M KAS) holds a disproportionately large share of total circulating supply, the network faces risks from whale sell-offs — a single large holder liquidating could crash the market. Conversely, if supply is well-distributed across tiers, the network is more resilient to individual actor behavior.

Track shifts over time to identify accumulation and distribution phases. When the ≥1M KAS tier's total holdings increase while price is flat or declining, large players are accumulating — a historically bullish signal. When top-tier holdings decrease while lower tiers grow, redistribution is occurring, which may indicate profit-taking by early adopters but also improved decentralization.

Compare Kaspa's supply distribution to other PoW chains at similar ages. Bitcoin's early years showed extreme concentration among Satoshi-era miners. Kaspa's faster emission (chromatic halving every year vs. Bitcoin's 4-year cycle) means supply distributes more quickly, potentially reaching mature distribution patterns years earlier than comparable networks.

How it's computed

The computation begins with a full scan of Kaspa's UTXO set. All unspent outputs are grouped by destination address, and each address's total balance is calculated. Addresses are then sorted into cumulative threshold buckets, and the total KAS held by all addresses in each bucket is summed. An address with 500,000 KAS contributes its full balance to the ≥0.01, ≥1, ≥100, ≥1K, ≥10K, and ≥100K tiers.

This produces a stacked view where higher tiers are always a subset of lower ones. The system stores these aggregate sums as time-series data points, enabling historical trend analysis. Because Kaspa's UTXO set evolves rapidly (1 BPS means up to 86,400 new blocks per day, each potentially creating and consuming UTXOs), snapshots are taken at regular intervals to capture meaningful supply movements without overwhelming storage.

Keep in mind that UTXO-based accounting means individual users may hold KAS across multiple addresses. A single entity holding 2M KAS split across four 500K addresses would appear as four entries in the ≥100K tier rather than one entry in the ≥1M tier. On-chain supply distribution therefore represents a structural view of the ledger, not necessarily the true distribution among economic actors.