The price of KASPA was a successful week compared to the highest alkinat, as it was pumped by 20 %, to more than $ 0.075. The cause of the pump is likely to be Kaspa Tough We have already informed us.
However, the Kaspa analyst, named “Kaspa”, posted a viral thread in which he tried to explain the reason for having the second largest KASPA wallet by Binance. Interesting, so let’s dig.
Evidence indicates the ownership of Binance
In a detailed analysis, the KASPA report collected evidence indicating Binance as the potential owner of the potential Kaspa port. The investigation examined many of the main factors that collectively indicate the exchange of encrypted currencies, most likely, controlling this portfolio.
Many people stated that the Kaspa port is over in N4uk5a owned BinanceThey are more likely. This topic brings together all the facts known about the wallet to show the reason we believe that it belongs to Binance. pic.twitter.com/i8uhr2ks5r
KasPa (Kaspareport) report March 17, 2025
The timing of the deposit was the first idea. The wallet shows consistent deposits on the week at the same daily time, indicating control by a commercial entity instead of the individual. This style is in line with the strict asset management protocols that are usually followed by the exchange of cryptocurrencies.
The capacity of the portfolio also indicates the exchange. A private individual is likely to face challenges in withdrawing these large sums of multiple exchanges due to KYC/AML restrictions. The unrestricted flow of the quantities of the large cryptocurrency indicates that there is work with ties with exchange. The previous analysis showed that bybit is likely to integrate Kaspa governor before withdrawals through the second largest portfolio, indicating coordination between the owner of the wallet and the stock exchange.
The source of the money provides another important idea. The wallet received funds from Gateio mainly. Due to the SEC systems that restrict American companies to deal with Gateio, this makes it unlikely that the wallet belongs to US -based companies such as Coinbase, GrayScale or GINI.
The analysis ruled out the possibility of being a mining portfolio, as Kas did not receive Coinbase, and the accumulated rate was inconsistent with typical mining. The timing of the transaction also indicates a commercial activity instead of mining.
Also read: How high KASPA (KAS) is 2025? This is the ALTCOIN competitor 0.016 dollars earns 4 million dollars in pre -pre -pre -pre -phase
Binance accumulation strategy
According to the Kaspa Report analysis, Binance began to accumulate Kaspa on October 23, 2023, via Gateio. Three weeks later, Binance announced that it would open trading for future contracts Kaspa Perpetual, which is designed in Stablecoins and Binance has not required possessing any kaspa.
This strategy of inserting permanent future contracts may be without a list of sites that allowed Pentins to suppress the price of Kaspa with more accumulation. Permanent future contracts, effectively value outside the KASPA ecosystem, which leads to price suppression.
From October 2023 to March 2024, Binance collected millions of kaspa. In March 2024, it began to use what would become its basic wallet, starting with the deposit of the 6.72 KAS test from Gateio on March 6, 2024. After a successful test, Binance transfer large sums to this portfolio.
Then starting October 3, 2024, Binance began to accumulate Kas via bybit, as well as the use of Gateio, allowing it to increase the accumulation rate. At this time, we first started discovering distortions in the distribution of the coin.https://t.co/7jxspmokkj
KasPa (Kaspareport) report March 17, 2025
Initially, all Kas flowed to the wallet either directly from Gateio and Kucoin or indirectly through other owned wallets. On September 12, 2024, Binance sent a small farewell to a 300 -kilo cup to the KASPA deposit portfolio on BYBIT. Then from October 3, 2024, Binance began to accumulate Kas via bybit in addition to Gateio, allowing it to increase the accumulation rate.
By early 2025, the portfolio became a target for random mail transactions, where I received more than 200 ka through many small transactions from unspecified sources. Despite the efforts made by KASPA developers to reduce random mail transactions, those responsible for the Binance RAM incurred costs to implement these procedures.
Over time, Binance increased significantly from the accumulation rate. By January 2025, it was absorbed more than half of all the new supply, and by March 2025, this number grew to more than 70 % of the new offer.
Also read: Kaspa Price Warning: Imported or more Esoppers?
It approaches the accumulation limit
The KASPA report believes that the Binance port is approaching the accumulation turning point. After consulting with a KASPA worker with knowledge, they estimated that about 70 % of KAS minor Kas enters the market immediately and is available for purchase, with 30 % of miners in the long run.
Binance currently accumulates Kaspa at a rate of 70 % of Coinbase emissions. As emissions quickly shrink, Binance will soon need to force the inactive supply to the market to maintain the pace of accumulation. Although it is possible to force a small percentage of the inactive supply by suppressing the prices, it is almost impossible to impose a high percentage to trading.
Data about inactive offer indicates that an increasing group of people uses Kaspa as money and not as speculative origin. Most people who have occupied Kaspa do not appear for long periods of concern about making daily currency rates, which means that the slightly inactive supply is likely to return to the market.
We can see how Kas flows between different portfolios. Executive managers of various exchanges are displayed as controllers in this portfolio. It seems that Richard Ting, who leads Bings, controls the second largest KASPA port. Depending on the current rate of accumulation, it is likely that it will soon become the world’s largest bearer in Kaspa.
In this perception, Kas flows with the executives of the exchanges that represent the governor in which they control. Richard Ting, Binance CEO, is believed to control the second largest KASPA portfolio, and is probably the world’s biggest carrier of KASPA in the world. pic.twitter.com/a6oyaioz6p
KasPa (Kaspareport) report March 17, 2025
Moreover, the risks that shock the symptom by collecting a lot of active symptoms. This can cause short pressure that weakens accumulation efforts. Thus, Binance is likely to approach the point where the accumulation rate will begin to decrease due to supply restrictions. If the current accumulation rate is close to this reflection point, its current property is almost mid -road to the possible maximum: approximately 1.5 billion kilos.
conclusion
Depending on this detailed report, Binance seems to be the most likely owner of the second largest portfolio in KASPA based on multiple lines of evidence. Consisked deposit patterns, withdrawal capabilities and financing sources indicate a major exchange instead of an individual investor. With the accumulation of Binance now over 70 % of the new KASPA supplies, the market may soon reach a critical turning point where the additional accumulation becomes increasingly difficult.
However, nothing was officially confirmed by Binance and until then, this remains just a rumor.
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