Kaspa Whale #2: $90M Accumulation Sparks Controversy | Are Exchanges Manipulating the Market?

A prominent entity, referred to as #Kaspa Whale #2, has been steadily acquiring $90 million in Kaspa ($KAS) since early March 2024, igniting both curiosity and skepticism among people in the crypto community. Critics question whether exchanges are intentionally delaying listings for their own gain, arguing that the current circumstances defy logic.

Whale Accumulation Insights

The whale's stockpile has reached 726,913,000 $KAS, purchased at an average price of $0.123 as of May 2025. Despite facing an unrealized loss of $24,006, no sales have occurred, indicating a firm long-term strategy aimed at strengthening their position.

Buying Patterns and Strategies

• Key Purchases:

  • February 20, 2025: 42 million KAS

  • March 11, 2024: 90 million KAS

• Active Hours (GMT+4):

  • 17:00: 225M KAS

  • 16:00: 212M KAS

  • 12:00: 147M KAS

• Weekly trends:

  • Mondays: 380M KAS bought

  • Thursdays: 256M KAS bought

This indicates a Dollar-Cost Averaging (DCA) strategy that aligns with institutional practices, hinting at potential involvement from major exchanges.

Community Reactions and Theories

The responses among people have varied widely:

"I wish these bastards would go ahead and list already. It makes no sense that it isn’t listed at this point," shared a disgruntled member on user boards, reflecting widespread frustration with the lack of listings.

Others expressed skepticism about the whale's intentions and the broader implications, insisting such market behaviors don't align with typical retail actions. Discussions suggest users speculate that major exchanges may manipulate prices by hoarding KAS to exert control.

Key Takeaways

• 📈 $90M accumulated by a single whale, significantly influencing market dynamics.

• 🔍 Persistent buying indicates potential institutional strategies at play.

• 🤔 Users express frustration over exchanges' listing practices, questioning market manipulation.

Interestingly, people’s sentiments reveal a mix of excitement about the whale's activity and dissatisfaction with the current market conditions. As discussions unfold, many remain vigilant about the whale's next moves, hinting at possible future impacts on $KAS's valuation.

Implications Ahead

If this whale is indeed linked to a major exchange like Coinbase or Binance, it suggests a looming spot listing for $KAS. People believe the anticipation around such developments could trigger substantial trading activity, potentially elevating $KAS prices further.

The Future of Kaspa

The ongoing accumulation raises significant questions:

• Will the whale continue to accumulate into the summer months?

• How will potential exchange announcements impact the market?

As institutional players assert their power, the crypto community braces for potential shifts in sentiment, highlighting the whale's ability to shape market trajectories in unexpected ways.