The Kaspa (KAS) token has faced a steep decline of over 60% in the past four months, with its price hovering around $0.042. Despite this downturn, large investors, including whales and a publicly listed company holding approximately $11 million in KAS, are steadily accumulating the token, signaling unwavering confidence in its long-term potential.
An analyst from Your Crypto Crew on YouTube highlighted that Kaspa's fundamentals remain solid, with the project focusing on speed, scalability, and real-world use cases like payments, tokenized assets, and supply chain traceability through initiatives such as the Kaspa Industrial Initiative. Whale accumulation is cited as a key indicator of resilience amid broader market weakness, suggesting that short-term price fluctuations may not reflect the project's underlying strength.
However, growing concerns within the Kaspa community have emerged, as highlighted in a viral post from a long-time supporter. Criticisms include the absence of native smart contracts and a stablecoin ecosystem, which could limit adoption in a market increasingly focused on AI, DePIN, and real-world assets. Additionally, issues with branding collapse, unclear communication, and internal division have raised fears that Kaspa risks fading into irrelevance, similar to past projects like Litecoin.
The warning notes that if Bitcoin enters a bear market, dropping to the $50,000–$60,000 range, Kaspa's price could plummet to penny levels in 2026. Despite these challenges, the post serves as a wake-up call, urging project leaders to refocus on messaging and development to harness Kaspa's antifragility and long-term vision.
