The Hype Cycle is a framework that charts the relative price of a technological asset against its relative hype, helping to indicate whether a nascent technology is in the early adoption phase, trending, or reaching maturity and saturation. 

Emerging technologies are known to display five key stages of a hype cycle, which include: the Innovation Trigger, Peak of Inflated Expectations, Trough of Disillusionment, Slope of Enlightenment, and the Plateau of Productivity.

This graph of "<1w RHODL" pertains to the subset of KAS tokens that have been held for less than one week, compared to those held by long-term holders. Short-term trades are representative of recent market speculation.  

This chart visualizes the relationship between Kaspa's Market Price (in USD) and its Relative Hype, measured by the percentage of coins held by addresses that acquired them within the last week (<1w RHODL). 

Why is it Important?

Spikes in this chart often correspond with an influx of transient investors driven by hype rather than conviction. In contrast, declining values typically signal the end of speculative phases—including market tops, bubble peaks, and FOMO-driven rallies. Periods of low hype are generally considered healthier for long-term accumulation, as they suggest more stable, conviction-based participation. Tracking these fluctuations reveals the hype surrounding Kaspa's technological innovations and their impact on the KAS market. 

How to Read the Chart: 

1. The Market Price (Gray Line, Right Axis) shows Kaspa's price in USD over time, with the scale on the right.

2. The Relative Hype (Teal Line, Left Axis) represents the percentage of the total supply held by very recent buyers (coins held for less than 1 week), with the scale on the left. The relative hype is used as a sentiment indicator, reflecting the proportion of new, speculative participants in the market.

Want to Learn More? 

The Hype Cycle was first introduced in 1995, by Gartner, Inc., a leading global research and advisory company, renowned for their market insights and data-driven reports. To understand the model in further detail, see Gartner’s paper, Understanding Gartner’s Hype Cycles.