This Week in Kaspa - 2024 Week 12

Introducing 'This Week in Kaspa' - a weekly Kaspa newsletter covering both on-DAG (on-chain) network activity and off-DAG Kaspa news.

Posted: Mar 24, 2024

By: Kaspalytics

Welcome to This Week in Kaspa! In this edition:

  • Announcement of the KEF
  • New UTXO charts on Kaspalytics
  • Hash rate ATH
  • 1+ year inactive supply jumps
  • A 5,000 KAS transaction fee

Let’s get started.

Off-DAG News

The Kaspa Ecosystem Foundation

Starting off with the news heard ‘round the Kaspa-sphere - the announcement (link to tweet) of the Kaspa Ecosystem Foundation!

“The Kaspa Ecosystem Foundation (KEF) provides funding, resources, and guidance. It upholds impartial principles to support the Kaspa ecosystem and advance its mission of becoming a widely used currency for everyday transactions.”

The KEF could be an extremely impactful organization in Kaspa’s journey towards mass adoption. At this point, Kaspa continues to rely heavily on community efforts to grow. The KEF will likely seek to attract development talent, crypto visionaries, and the next wave of crypto projects to the network.

Initial funding of the foundation was provided by Ice River Mining and OKX Ventures. The foundation will be overseen by a Board of Directors from individuals and companies already heavily involved in the Kaspa ecosystem. Including CoinPal, OKX, Rhubarb Media, Wolfie, and more.

The KEF lists two active projects on their website currently:

  • Smart Contracts
  • KASPlex

KEF will be hosting a Twitter Space on March 26th at 10 AM EST. Hopefully we’ll hear more information about those two active projects then.

New UTXO Charts on Kaspalytics

We are pleased to announce that Kaspalytics has three new charts!

While we’ve long shown total count of UTXOs, these three charts will help provide deeper insight into UTXO count fluctuations.

UTXO Net Change Chart as of 2024-03-24 Kaspa UTXO Net Change Chart as of 2024-03-24

Looking On-DAG

Hash Rate ATH

After churning in the 160-180 PH/s range for a few months, the Hash Rate hit an all-time high of 203 PH/s. We don’t like to speculate on price, but we can see that price and hash rate are deviating:

Hash Rate Chart as of 2024-03-24 Kaspa Hash Rate Chart as of 2024-03-24

Goldshell announced their KA BOX mining rig earlier this month. If the Goldshell KA BOX sells well, we could expect additional hash rate to come online in the coming months.

Inactive supply 1+ year

The percent of CS inactive for more than 1 year jumped from 14.18% to 15.89% over the last month. With the majority of the increase happening in a few day window, this is most likely the result of concentrated holdings by an address or set of addresses.

1+ Year Inactive Supply Chart as of 2024-03-24 Kaspa 1+ Year Inactive Supply Chart as of 2024-03-24

A 5,000 (Accidental?) Tx Fee

The network saw another ~5,000 KAS fee on March 9th on transaction b3a2967190bcd74402a11072104c98945eff64925999b459774f223563b2a5fe.

The transaction had:

  • 15 inputs totaling 10,050 KAS
  • 2 outputs totaling 5,050 KAS

There have been 5 transactions with fees over 5,000 KAS since we started tracking this metric in October 2023. A large fee like this doesn’t always indicate a mistake, it could be a miner playing games with their mined blocks.

Kaspalytics provides a handful of charts that are helpful in monitoring Kaspa fee markets. The particular chart that allows us to monitor for large transaction fees is our Daily Largest Fee Paid Chart.

Thanks for reading!

Check back next week for a new edition.

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