Entity X is the largest single Kaspa address. The name is just a label that block explorers like kaspa.stream gave it — nobody knows who controls it. Its exact balance is shown above, fetched live from the Kaspa network as you read this — a share of circulating supply so large that in July 2026 it exceeded a third of what all known exchanges held combined.
Honestly: nobody knows, and anyone who claims to is guessing. The plausible theories are a very early large holder consolidating, an institution or fund custodying a position, or an OTC desk's cold storage. What the chain rules out is just as useful: the pattern (steady weekly withdrawals from exchanges, never selling) looks like patient accumulation, not market-making or exchange infrastructure.
Two reasons. First, concentration: one unknown party holding 5.4% of supply is a real risk factor — if this wallet ever moved toward an exchange, it would matter, fast. Second, signal: someone with tens of millions of dollars keeps choosing to take KAS off exchanges week after week — straight through the 2025–2026 drawdown. You don't have to copy them. But it's one of the few on-chain facts in crypto you can verify yourself in 30 seconds.
Don't trust us — check the address on any explorer:
Look it up on kaspa.stream (labeled "Entity X", rank #1) or query the public API directly: api.kaspa.org/addresses/<address>/balance