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What is Entity X? Kaspa's biggest wallet, explained.

One single address holds more $KAS than any exchange on earth. Here is everything that's actually verifiable about it, and nothing that isn't.
Entity X balance today
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fetching the balance…
fetched from the kaspa network when the page loads · weekly context updated every monday on the dashboard

The short answer

Entity X is the largest single Kaspa address. The name is just a label that block explorers like kaspa.stream gave it, and nobody knows who controls it. Its exact balance is shown above, fetched from the Kaspa network when the page loads. It is a share of circulating supply so large that in July 2026 it exceeded a third of what all known exchanges held combined.

see above
current balance, one address, verifiable on any explorer, shown above
see above
share of all circulating KAS held in this single wallet, computed from supply when the page loads
> ⅓
of all known exchange holdings combined (3.94B KAS), as measured July 2026
$0.0857
average KAS price on the days KAS came in, weighted by amount. our own calculation from every deposit on chain

What the on-chain record shows

The price on the days KAS came in

Everyone quotes this wallet's balance. Almost nobody has worked out what the KAS was worth on the days it came in. So we did it ourselves, from the raw chain data, and we publish the method along with the number.

We pull every transaction this address has ever been part of, keep only the true net inflows, and value each one at the volume weighted average price of the day it landed, not the daily close. Deposits arrive throughout the day, not at midnight. That single choice is why our number will differ slightly from anyone using closing prices, and it is the more honest of the two.

Average entry price
$0.0857
across 330 deposits between 6 Mar 2024 and 23 Oct 2026
$137.9M
put into this wallet, in dollars, at the prices of the day
$54.8M
what the same coins are worth at the latest price
−$83.1M (−60%)
unrealized
Read that bottom row again. This wallet put a nine figure sum into this position and kept depositing right through the drawdown. The latest deposit in our count landed on 23 Oct 2026. Whatever it is, it is not trading.

Method, in full. Net inflows only, so change from a wallet's own spending is never miscounted as a new inflow. Daily prices from KuCoin, with MEXC and Bybit filling any gaps. If more than 2% of the coins land on days we cannot price, the number is marked unreliable and this box disappears rather than showing you something half true. Recomputed automatically every Monday.

Every coin that has left this wallet

The claim you will read almost everywhere is that Entity X has never sent a single coin out. That is not correct. Since March 2024, 69,957,866 KAS have left the address across 28 transfers. Here is every one of them, with the transaction you can open on any explorer.

Keep the scale in mind before anyone turns this into a headline. It is 4.35% of everything the address ever received. The other 95.65% is still there, and the latest deposit in our count landed on 23 Oct 2026. And crucially, the chain does not tell us where these coins went next. A transfer to an exchange and a move to a second address the same owner controls look identical from here. Anyone who tells you which it was is guessing.

DateKAS outTransaction
7 Mar 202422a59e5f498…295748
29 Mar 202410cd1fd92d2f…36c2e8
29 Mar 202410c024a95c17…65d27a
2 Apr 20241ef2e2e0575…3d3025
3 Apr 20241,310381a9432a9…a8717e
12 Sep 20243008d9e989327…5439d1
19 Sep 20241,140,00051d4cdfe78…e7f466
12 May 20253,151,02572edb68f09…79845a
24 Jul 20254,794,864bb32453d1d…d17261
27 Oct 20251,454,7314052e27d6f…2228cf
6 Nov 20255,714,289ff2400f27f…672821
24 Dec 20251,384,901f0e00d6133…a8e35d
7 Jan 2026121ec5ca82af0…970fd3
21 Jan 20263,396,16867349f7e97…1a2464
30 Jan 20262,680,3994a8300c997…269a64
2 Feb 20264,082,62039fb73b0b7…76a62a
5 Feb 20261,119,6199d55257f33…9190d0
19 Mar 20263,100,14245518a5eee…ddac33
7 May 20264,937,9958671ec587a…4c0385
18 Jun 20262,079,7272ed0acf467…234c7d
10 Aug 20262,396,922b5dffd7a72…0835a8
27 Aug 20262,992,96959c797e2ac…e17486
14 Sep 20263,147,380fea10a7aeb…2e8a41
17 Sep 20265,626,97469d060840d…e3e507
24 Sep 20262,000,01549ba8535c1…c1954f
28 Sep 20266,377,60165f120cf8c…924964
1 Oct 20264,517,8087d15c9e75d…620fc0
15 Oct 20263,859,963e5ac927c08…903f66

The 7 greyed rows are dust, a few coins each, almost certainly test transactions or someone else's spam. The 21 real transfers total 69,956,112 KAS. Last outflow on 15 Oct 2026, 3,859,963 KAS.

Where do the coins come from?

The other half of the ledger. In August 2026 we traced the origin of every inflow this wallet has ever received, 296 transfers, 1,548,084,255 KAS, from just 131 distinct senders. Every sender was classified by public exchange labels and on-chain behaviour. The result is unambiguous.

origin of all 1.55B KAS ever received · traced 6 aug 2026
89.7% from exchanges · 87.4% arrived straight from the four hot wallets that kaspa.stream labels gate.io (61.5%), bybit (17.7%), bitget (7.2%) and bitvavo (1.5%), the rest via intermediates or exchange-like senders
9.4% from fresh unlabeled wallets · 26 senders, including one batch that all deposited on the same day in July 2025
0.9% unclear · small senders with no label and no distinctive profile

Two more facts fall out of the trace. Zero coins ever arrived from mining. Not one block reward has ever been paid to this address, which retires the popular "early miner stash" theory in its direct form. And the sender list is short, 131 addresses, most of the volume from four of them, not the swarm of hundreds of small wallets that consolidation stories require.

The honest limit of this method is that the chain goes dark inside an exchange. A deposit and a withdrawal cannot be linked from outside, so where the coins entered gate.io or bybit from is visible only to their compliance teams. An inflow from an exchange wallet is a withdrawal from that exchange, and the chain shows the movement only. We report the movement, never the motive, and the raw result, every address and every verdict, is public in this JSON file.

Who is behind it?

Honestly, nobody knows, and anyone who claims to is guessing. But the inflow trace above narrows the field. Direct early-miner consolidation is effectively ruled out (zero coinbase, no wallet swarm), and no exchange fills its own cold storage from four competitors. What the count shows is that 87.6% of all KAS that flowed into this wallet came from addresses labeled as exchanges (gate.io, bybit, bitget and bitvavo, labels from kaspa.stream, traced as of 21 Sep 2026), across 315 deposits between 6 Mar 2024 and 23 Sep 2026, straight through the drawdown. Who is behind those withdrawals is visible only in the KYC files of those exchanges.

Why it matters

Two reasons. First, concentration. One unknown party holding the share of supply shown at the top of this page 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 received KAS in 315 deposits between 6 Mar 2024 and 23 Sep 2026, straight through the 2025 to 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.

Verify it yourself

Don't trust us, check the address on any explorer.

kaspa:qpz2vgvlxhmyhmt22h538pjzmvvd52nuut80y5zulgpvyerlskvvwm7n4uk5a

Look it up on kaspa.stream (labeled "Entity X", rank #1) or query the public API directly at api.kaspa.org/addresses/<address>/balance

The balance below is fetched from the public Kaspa API every time the page loads. The weekly delta is published every Monday on the Kaspa Pulse dashboard. The address gets checked several times a day. When a check finds a move, a post goes to the free Kaspa Pulse Discord.

Questions people ask

What is Entity X on Kaspa?

Entity X is the largest single Kaspa address, one whale wallet whose owner is unknown. Its balance and share of circulating supply, its deposits and its full outflow history are tracked on this page, read directly from the public Kaspa API.

Who is the biggest Kaspa whale?

The largest known single wallet is the address the community calls Entity X. Its current share of circulating supply is shown on this page. Its owner is unknown, and this page documents the on-chain evidence and the main theories without claiming certainty.

Has Entity X moved coins out?

Yes. Every outflow from the wallet is counted and listed on this page. Some outflows went to deposit addresses that public labels attribute to exchanges. A deposit to an exchange shows where the coins went in, not what happened to them after that, so we see the movement and not the destination.

How is the Entity X wallet tracked?

A bot reads the address balance from the public Kaspa API and compares it against the previous day. The address gets checked several times a day, and a post goes to the free Kaspa Pulse Discord when a check finds a move.

Where does Entity X get its KAS?

We traced every inflow the wallet has ever received, 296 transfers totalling about 1.55 billion KAS from 131 distinct senders, as of August 2026. Roughly 90% came in from exchanges, with 87.4% coming straight from hot wallets publicly labeled as gate.io, bybit, bitget and bitvavo. About 9% came in from fresh unlabeled wallets and no coins ever came in from mining directly. An inflow from an exchange is a withdrawal from that exchange, and the chain never names the owner.

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