Whales stacking while $KAS keeps bleeding

Hey, welcome to Kaspa Daily Pulse, here's what the Kaspa community's been buzzing about today.

First up, price action remains painful. KAS was quoted at roughly 2.57 cents, down 3 percent over seven days, while gaining 1.9 percent against Bitcoin. The mood was unmistakably bearish, with plenty of jokes about poverty, lower lows, and waiting forever for one dollar KAS. You know, the usual Kaspa support group experience.

Underneath the jokes, accumulation remains the dominant strategy. Several people discussed increasing their fiat DCA, while others are placing lower buy orders around 1.5 cents. One especially aggressive order was sitting at four tenths of a cent, although another member argued that reaching that level could signal serious trouble for the project. The broader takeaway was simple: people expect volatility, but many still plan to buy if prices fall further.

The biggest on-chain talking point involved large wallets. Wallet number one reportedly bought again. Separately, a wallet previously ranked nineteenth moved up to seventeenth after purchasing another 11 million KAS, bringing its total holdings to around 98 million KAS. Community members debated whether major wallets could represent institutions, market makers, or wealthy individuals, but there was no confirmed identity. What IS clear from the discussion is that large holders are still accumulating.

Another important development was BitGo reportedly building Kaspa custody infrastructure for institutions. The community viewed this as potentially useful plumbing for larger players that need professional custody before holding KAS. No timeline or additional details were shared, so expectations stayed measured, but it was one of the more concrete pieces of ecosystem news discussed today.

There was also chatter about Kaspa appearing in a Gemini promotional image posted by Gemini’s official account. However, the logo looked unusual, and the image included several other cryptocurrencies. There was no official Kaspa listing announcement, so the community treated it as an interesting visual clue, not confirmation of anything.

Finally, network sentiment received a small boost, with members saying the hashrate was looking good. No specific figures were provided, but it offered a rare technical bright spot during an otherwise price-focused day.

So, weak price action, strong conviction, active whale accumulation, and institutional custody developments quietly moving forward.

That's it for today's pulse. Let's see what tomorrow brings. Catch you then.