295,772 addresses with at least 100 KAS and 54,887,787 addresses with any balance on 25 October 2026, source kaspalytics
Kaspa's supply approaches a hard ceiling of about 28.7 billion KAS. The circulating figure is below, and because the emission curve decays geometrically, the overwhelming majority of all KAS that will ever exist has already been mined. Every coin entered circulation the same way, as a mining reward, starting from block one on November 7, 2021. There was no other door.
Numbers quoted for "how many people hold Kaspa" differ by a wide margin. The largest one counts every address with any balance, including addresses that hold a fraction of a KAS left over from a transaction. The others count addresses at or above a stated threshold, 0.01, 1 or 100 KAS. All of them come from kaspalytics and we log them every week.
| Kaspa addresses on 25 October 2026 | Count |
|---|---|
| addresses with any balance | 54,887,787 |
| addresses with 0.01 KAS or more | 768,253 |
| addresses with 1 KAS or more | 566,188 |
| addresses with 100 KAS or more | 295,772 |
Source kaspalytics, logged weekly by us. Each row counts every address at or above its line, so the rows overlap.
Two cautions when you read these numbers. One person can hold many addresses, and one exchange address can hold the coins of thousands of people, so neither number counts people. And the address count with any balance jumped from about 283,000 to about 53.9 million between 24 and 28 September 2023, a change in how the source counts, not a wave of new holders. Who holds the largest share is on what is entity x?
Kaspa launched on November 7, 2021, announced publicly before the first block. There was no initial coin offering, no tokens created at genesis, no allocation for the founders, and no discounted round for investors. The supply at block zero was exactly zero. Everything since has been minted one block reward at a time, paid to whoever contributed the mining work, on ordinary CPUs and GPUs in the early months, on ASICs since 2023.
That makes Kaspa part of a small club. Most major chains distributed a large share of their supply before the public could earn any.
| Network | How initial supply was created | Insiders at day one |
|---|---|---|
| Bitcoin (2009) | mined from block one | none |
| Ethereum (2015) | created at genesis, sold in the 2014 crowdsale | the majority of initial supply |
| Solana (2020) | genesis allocations to investors, team and foundation | roughly half of initial supply |
| Kaspa (2021) | mined from block one | none |
This is a historical fact, not a value judgment. Ethereum and Solana built enormous ecosystems on their models. But it changes how you read Kaspa's supply data. There is no unlock schedule to track, no vesting cliff to fear, no foundation treasury that can hit the market. What you see on chain is the whole story.
Kaspa's emission follows a smooth geometric curve. Block rewards shrink by about 5.6% every month, halving every 12 months. Summed to infinity, that curve converges on the ~28.7B ceiling, and each year adds half of whatever remains. The practical consequence is that supply growth is front-loaded and the tail is thin. The remaining coins will trickle out over decades, with rewards mathematically reaching zero in the 2050s. The full schedule, with the block reward by date, is on the Kaspa halving, explained.
Aggregator sites make choices. Do burned coins count, do dormant coins count, do foundation treasuries count? For most chains those choices move the number by 10% or more. Kaspa is unusually clean, everything mined is circulating by any definition, but if you compare across sites and see small differences, that's methodology, not mystery.
In most of crypto, "fully diluted valuation" towers over market cap because most supply hasn't been released. For Kaspa the two numbers nearly coincide. The dilution that terrifies holders of heavily-vested tokens is arithmetically almost over here. When you see FDV-based warnings applied to Kaspa, check the share above before taking them seriously.
A fair launch means nobody was given coins. It doesn't mean coins are evenly spread years later. Whoever mined early and held still holds large positions, and the single biggest address alone holds a share of everything in circulation large enough to track on its own. Supply tells you how many coins exist; it takes address-level data to see who has them. We track exactly that, with the dated share of that one address, on what is entity x?
There were 295,772 Kaspa addresses with at least 100 KAS on 25 October 2026, source kaspalytics. One person can hold many addresses, so this counts addresses, not people.
There were 54,887,787 Kaspa addresses with a balance on 25 October 2026, source kaspalytics. Most of them hold dust, only 768,253 held 0.01 KAS or more on the same day.
There were 27,776,348,075 KAS in circulation on 26 October 2026, source the Kaspa REST API. The maximum supply is about 28.7 billion KAS, computed from the emission schedule, and every coin enters circulation as a mining reward.
About 28.7 billion KAS. This is a mathematical ceiling produced by Kaspa's geometric emission curve. Block rewards fall by roughly 5.6% per month, so total supply converges on the ceiling without ever quite touching it. Rewards reach zero in the 2050s.
No. Kaspa launched publicly on November 7, 2021 with zero coins in existence. There was no premine, no initial coin offering, no team allocation and no investor round. Every KAS in circulation entered as a mining reward, starting from block one.
New supply is still being mined, but the rate falls by design. Block rewards shrink about 5.6% every month, halving each year. The large majority of all KAS is already mined, so annual new supply is a small and continuously shrinking share of circulating supply. The emission rate and the share already mined are computed on this page.
No. Because there was no premine and no allocations, there are no vesting schedules, unlock cliffs or treasury releases. The only source of new KAS is the fixed, publicly computable mining emission schedule.
The share of all KAS already mined is shown on this page, as of the day you read it. Because the emission curve decays geometrically, there is no abrupt end date. Rewards shrink by about 5.6% every month, reach practically zero in the 2050s, and the final fraction trickles out over decades. The often-quoted claim that Kaspa's supply runs out in 2026 is false.
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