Last updated on January 30
This metric tracks the 30-day percentage change in Kaspa's Realized Price, serving as a proxy for the rate of on-chain capital inflows and outflows. Positive changes signal fresh capital entering the network as coins trade at higher average prices, while negative values indicate outflows or a reduced cost basis due to selling pressure.
Realized Price: The Kaspa Realized Price is the Realized Capitalization (the total value of all KAS coins at the price they were last transacted on-chain) divided by the number of circulating KAS coins. The Realized Price differs from the Market Price, which indicates the current price of KAS. The Realized Price, on the other hand, tells us the average purchase price of all KAS coins in circulation. Each UTXO is valued at the time it last changed wallets, not at its present market price.
Formula: Realized Price = ∑ (UTXO Amount * Price at Last On-Chain Move) / Circulating Supply
30-Day Change Calculation: This metric computes the percentage shift in realized price over the prior 30 days, highlighting short-term capital momentum rather than long-term averages. This metric is most sensitive to recently moved coins, since only newly transacted coins can change the realized price, while dormant coins anchor the baseline.
Why is this important?
Rising values reflect accelerating inflows, fueling rallies as demand absorbs supply at higher bases, a common feature of bull phases as conviction builds. Falling readings, like -2.47% or lower, often mark capitulation near lows, where weak hands exit, and HODLers dominate, setting up recoveries. Historically, extreme highs and lows correspond to major trend reversals.
How to Read the Chart:
The Chart consists of the following components:
The Kaspa Market Price (The White Line) is recorded in USD and plotted against price on the y-axis and time on the x-axis, from just before January 2023 to the present.
Realized Price (Primary Line): Network average cost basis, with 30-day percent change overlaid or implied.
Realized Price 30-Day Change Above Zero (Green Candle): When the Realized 30-Day Change is positive, above 0%, it indicates capital inflows and bullish strength.
Realized Price 30-Day Change Below Zero (Red Candle): When the Realized 30-Day Change is negative (e.g., below -5%), it indicates capital outflows and a potential macro stress signal. .
When Kaspa's market price crosses above its realized price, the average coin trades at a profit relative to its on-chain cost basis. This signals broad unrealized gains across the network—holders bought lower on average, and the current price exceeds that historical average acquisition cost. This is common when the market is in an expansion phase.
Conversely, when the market price crosses below the realized price, most coins trade at a loss based on their last on-chain moves. This indicates widespread underwater positions, often coinciding with capitulation, panic selling, or bear-market lows when weak hands exit. This historically aligns with market lows.
Want to learn more?
Explore Kaspa's Realized Price chart, alongside LTH/STH Realized Price breakdowns for holder dynamics."