Kaspa (KAS)
Kaspa ranks #27 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #80: 53 of the 79 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 69 non-native assets CoinSpectrum lists above it by market cap, about 55% are claims on other assets, 39% are tokens and 6% are memecoins.
| CoinSpectrum Grade | A+ · 79/100 · provisional, A to A+ |
|---|---|
| Rank among cryptocurrencies | #27 |
| Rank counting claims | #80 |
| Market capitalisation | $826M |
| Price | $0.0297 |
| Circulating supply | 27,802,072,679 KAS |
| Maximum supply | 28,704,026,601 KAS |
| Consensus family | Proof of Work |
| Consensus mechanism | kHeavyHash (GHOSTDAG) |
| Own hashrate | 339 PH/s |
| Network purpose | Payments |
| Ledger type | Overlay-asset ledger |
| Launch distribution | No premine |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
A+ — 79 out of 100, provisional (from 10 of 10 sections, 10 November 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 72 to 80 (A to A+).
| Section and criteria | Score | Basis |
|---|---|---|
| Consensus | 10 | average of 2 criteria |
| By leader (its largest chain's market cap) (Source) | 10 | Proof of work: 10 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| By family (all its chains' market cap) (Source) | 10 | Proof of work: 10 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Supply | 7 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 6.7 | fixed maximum supply of 28.7 billion |
| Distribution | 10 | average of 3 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | – | Not yet measured |
| Premine (allocated at launch) | 10 | Fair launch: no premine |
| Fundraising (share sold) (Source) | 10 | No sale of the coin |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners who produce blocks |
| Decentralisation | 9.6 | average of 4 parts |
| Governance (Source) | 10 | No authority can halt the chain or freeze funds: No party can freeze coins; no halts on record. source |
| No central team (Source) | 10 | No central team: Volunteer core contributors maintain rusty-kaspa and the Go kaspad; the Kaspa Ecosystem Foundation funds some work but does not control the client. source |
| Who can mint (Source) | 10 | Open to anyone with hardware: anyone can produce blocks by mining, no permission needed |
| Nodes (Source) | 8.5 | 344 reachable nodes source |
| Security | 8.7 | 5.2 of 6 points, 2 not yet measured source |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | – | |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | 7.6 | about 83,551 transactions a day |
| Hashrate (Own work 5, its power 1 kW 0 to 10 GW 5; 1 point) | 8.2 | own work 5; about 26.1 MW, 3.2 of 5; the largest on its algorithm |
| Clients (Separate code and teams 10, separate code or teams 9, a fork by the same team or a stale second 8; one client: a new version within 12 months 7, 24 months 6, none in 24 months 5, none in 48 months 3; a second in development +0.5, a second seen running +1, 8 at most with one client; chain ended 0; 1 point) | 9 | rusty-kaspa (Rust, a rewrite, v2.1.0, Sep 2026) and the original Go kaspad (v0.12.23, Jun 2026): separate code, the same core contributors |
| Open source (Node software) | ✓ | |
| No 51% attack (Nor a deep reorganisation, five years) | ✓ | |
| Scalability | 6.7 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.00007 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | 10 | about 2,500 simple transactions a second |
| Block time (10 minutes 10, less either side) | 0 | a block every 0.1 seconds |
| Block space per 10 minutes (24 MB or more 10: the ten busiest networks' median demand, 16.4 MB, and half again for growth) | 10 | 0.25 MB limit (converted from its gas, compute, mass or count limit), 1500 MB per 10 minutes |
| Features (3 checks) | 3.3 | 1 of 3 passed |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | ✗ | 10 blocks a second, but GHOSTDAG confirmation is probabilistic (about 10 s) and rusty-kaspa supports replace-by-fee, so fast blocks alone do not qualify. |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | ✓ | kaspad prunes block data below the pruning point by default; --archival is opt-in. |
| Light clients (Payments verified from headers · Whitepaper §8) | ✗ | No SPV or light-client protocol yet; wallets connect to a node's RPC. |
| Privacy | 7 | 7 of 10: whitepaper privacy 7 of 7, extra features 0 of 3 source |
| Protocol level privacy (Keys not tied to an identity · Whitepaper §10) | 10 | Anyone can generate keys and receive and send coins; the consensus rules carry no identity check. |
| UTXO ledger (Separate outputs, change to a new address · Whitepaper §2, §9) | 10 | Coins are separate unspent outputs: a payment spends whole outputs and sends the change to a new address, so the coins in one wallet need not share a history. |
| HD addresses (A new address for each payment, unlinked · Whitepaper §10) | 10 | BIP32 extended public key (xpub): a watch-only wallet derives each new receiving address without the private key |
| Hidden amounts (Amounts confidential) | 0 | No confidential transactions. |
| Hidden parties (Sender and receiver hidden) | 0 | No sender or receiver hiding. |
| Network privacy (Origin hidden by default) | 0 | rusty-kaspa relays transactions directly; no Dandelion or Tor. |
| Programmability | 6.3 | 5 of 8 points, 1 not yet researched source |
| Token issuance (At protocol level) | 2 | Covenants with consensus-tracked covenant IDs (KIP-17, KIP-20) active since the Toccata hard fork of 30 June 2026, on which the KCC-20 fungible-token standard (finalised October 2026) runs; before that, KRC-20 was only an indexer metaprotocol. |
| Smart contracts (Scripting for spending conditions) | 1 | The Toccata hard fork (30 June 2026, KIP-16/17/20/21) added introspection, OP_CAT and ZK verification for covenants, but no applications run on mainnet yet, so it scores as scripting for spending conditions. |
| Multisig and time locks (Without a third party) | ✓ | OpCheckMultiSig plus OpCheckLockTimeVerify and OpCheckSequenceVerify in the txscript engine. |
| Atomic swaps (With other chains) | ✓ | OpSHA256 with OpCheckLockTimeVerify/OpCheckSequenceVerify expresses an HTLC. |
| Native DEX (Trades the coin itself, not a claim) | ✗ | No DEX found trading the coin itself: none on its own chain (DefiLlama), and not on THORChain, Maya, Chainflip, Komodo DeFi, BasicSwap, Bisq or Haveno (checked 2026-11-04). |
| Cross-chain messaging (Verified by the chain itself) | ✗ | No protocol messaging to other chains; Kasplex is a separate L2. |
| NFTs (Carried by the chain's rules) | – | Covenant IDs (KIP-20) could track unique tokens, but the finalised KCC standards cover only fungible tokens and no NFT standard is documented. |
| Demand | 6.3 | average of 7 measures |
| Exchanges (10 or more: 10) | 10 | 30 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 5.6 | $4,542,720 traded in 24 hours; #175 by volume on the exchanges the site reads (scored on the median day of the last 30, $6,681,904) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 5.5 | 0.72% of its market cap a day, median of the last 30 days |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | 6.4 | $665,781 within 2% of the price on 6 exchanges, 0.08% of its market cap, median of the last 15 days |
| Market cap ($1M 0, $10B or more 10) | 7.3 | $826M, 7.3 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 8 | futures, options and margin positions 4.1% of its market cap |
| Wallet support (wallets that hold it, 10 or more: 10) | 1 | its own node and wallet, counted as 1: no wallet in the site's directory lists it yet |
| Record | 7.3 | average of 3 criteria |
| Age (years since genesis) (Source) | 4 | 4 full years since 2022-06-01, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, fixes, vulnerabilities) | 8 | 3 positive, 0 negative, 1 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 438 commits in 12 of the last 12 months (github.com/kaspanet/rusty-kaspa); kaspanet/rusty-kaspa v2.1.0, 2026-09-22; 9 stable releases in 24 months. |
| Shipped a scaling upgrade in two years, +1 | ✓ | Crescendo hard fork, 5 May 2025: 1 to 10 blocks per second. |
| Shipped a new capability for users in two years, +1 | ✓ | Toccata hard fork (rusty-kaspa v2.0.0), about 30 Jun 2026: covenant opcodes, covenant IDs and ZK-verification opcodes. |
| Not yet researched | ||
| Shipped a security fix in two years | – | |
| Conduct (origin, claims, halts) | 10 | 3 positive, 0 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
Ten sections, weighted equally, each 0 to 10: consensus (the two ladders), supply (the supply scale and a fixed cap that holds), distribution (premine, fundraising, developer share, holders), decentralisation (governance, no central team, who can mint, nodes), security, scalability, privacy, programmability (what the scripting layer can do beyond the whitepaper's payment system), demand, and record (age, development, conduct). They are built from the criteria in the second table: privacy, scalability, security and decentralisation are the Cryptocurrency Standards among them, as follows: privacy (the whitepaper's three checks a base of 7 of 10, three extra features up to 3 more), scalability (four measures and three features), security (pool diversity, network activity, hashrate, clients and two checks) and decentralisation (governance, no central team, who can mint, nodes, holders, premine, fundraising and developer share); programmability (token issuance, smart contracts and five checks) follows them, and supply and demand are two: the supply, scored against 21 million, and demand, the average of seven measures of the market and the wallets. Provisional: parts marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
Proof of Work coins
Bitcoin BTCA+
Zcash ZECA+
Dogecoin DOGEA+
Litecoin LTCA+
Ethereum Classic ETCA
Dash DASHA+
Pearl PEARLAAll Proof of Work chains →Proof of Stake coins
Ethereum ETHA+
BNB BNBA
Solana SOLA+
TRON TRXA
Hyperliquid HYPEB
Cardano ADAA
NEAR Protocol NEARAAll Proof of Stake chains →Supply
27,802,072,679 of a maximum 28,704,026,601 KAS are in circulation — 96.9% of the total that will ever exist.
Launch and allocation
| Nodes or validators | 344 |
|---|
The work behind it
Kaspa is secured by 339 PH/s of its own work. Hashrate does not compare across algorithms — a SHA-256 hash and a Scrypt hash cost different amounts to produce.
What a regulator has said
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
How CoinSpectrum ranks Kaspa
Kaspa is #27 among cryptocurrencies and #80 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 53 places between Kaspa's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).
Read on the site
- Fair launch or pre-mined · blog
- Mining profitability and hashrate sites compared · blog
- Which cryptocurrencies have a fixed supply? Capped and uncapped coins · journal
- The proof-of-work hashrate leaderboard doesn't exist · journal
- Pre-issued and sold: when founders sell coins they premined · journal
- Where a DEX runs, and what it actually trades · journal