KAS Hashrate Rebounds to 320 PH/s as Kaspa Holds Key Demand Zone

• Kaspa's hashrate has recovered from a yearly low, rising from 276.9 PH/s to approximately 320 PH/s in early August 2026, suggesting renewed miner confidence despite an 87% price decline.
• Nearly full token circulation (27.62B of 28.7B max) and diversified ownership provide a structural advantage over rivals with large future supply unlocks.
• Daily active addresses jumped from below 1,000 to around 3,000 in early August, indicating a resurgence in genuine user participation and interest in the protocol .
• Trading around $0.02615, the token has entered a historical demand zone where buyers previously triggered a 1,700% rally, contrasting improving fundamentals with cautious market sentiment .

Kaspa (KAS) has demonstrated significant resilience in its network fundamentals despite a severe price correction of roughly 87% from its all-time high of $0.2075 . Trading around $0.02615, the token has entered a historical demand zone between $0.021957 and $0.027917, a range where buyers previously triggered a 1,700% rally . While the price remains caught between improving fundamentals and cautious market sentiment, underlying network metrics present a contrasting narrative of structural strength .

Mining activity shows clear signs of recovery and potential bottoming. After a steady decline in hashrate from 710.17 PH/s in August 2025 to 276.9 PH/s by July 2026, the network saw a modest recovery in early August, with hashrate rising to approximately 320 PH/s . This uptick suggests that reduced network difficulty has improved profitability margins, encouraging miners to reconnect equipment and stabilize the network . The network remains secured primarily by major pools including Humpool, F2Pool, and ViaBTC, indicating sustained institutional mining interest .

Why Does Kaspa's Tokenomics Structure Matter for Long-Term Value?

Tokenomics remain a key differentiator for Kaspa compared to many competitors in the digital assets space. With 27.62 billion KAS already in circulation out of a 28.7 billion maximum supply, future inflationary pressure is minimal . This near-full circulation status provides a distinct advantage over rival projects where large future supply unlocks often create downward price pressure .

Ownership distribution further supports the network's structural integrity. Approximately 544,945 addresses hold at least 1 KAS, reflecting a relatively broad base of participants . While the top 1,000 wallets control 58.80% of the supply, this concentration is significantly lower than many rival projects where over 90% of supply is held by a small minority . This diversified ownership model reduces the risk of coordinated sell-offs and enhances network decentralization .

Are On-Chain Metrics Confirming a Resurgence in User Activity?

On the user side, network utilization remains stable with approximately 30,000 daily transactions . More notably, active addresses have jumped from below 1,000 to around 3,000 daily in early August, indicating a resurgence in genuine user participation . This jump in active addresses suggests that the protocol is regaining traction among its core user base .

While these metrics indicate growing network participation, the price action has not yet fully reflected this on-chain strength . The divergence between improving fundamentals and cautious market sentiment highlights the complex dynamics currently affecting the asset . Investors are closely watching whether the recovery in hashrate and active addresses will translate into sustained price appreciation .

The combination of recovering mining activity, robust tokenomics, and rising user engagement positions Kaspa as a resilient network despite the broader market headwinds . The historical demand zone provides a critical support level for investors evaluating the risk-reward profile of the asset . As the network continues to stabilize, the interplay between supply constraints and growing utility will be a key driver of future performance .