Kaspa ranks #27 of 504 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #75: 48 of the 74 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 65 non-native assets CoinSpectrum lists above it by market cap, about 58% are claims on other assets, 35% are tokens and 6% are memecoins.
| CoinSpectrum Grade | A+ · 82/100 · provisional |
|---|---|
| Rank among cryptocurrencies | #27 |
| Rank counting claims | #75 |
| Market capitalisation | $988M |
| Price | $0.0356 |
| Circulating supply | 27,780,373,131 KAS |
| Maximum supply | 28,704,026,601 KAS |
| Consensus family | Proof of Work |
| Consensus mechanism | kHeavyHash (GHOSTDAG) |
| Own hashrate | 368 PH/s |
| Network purpose | Payments |
| Ledger type | Overlay-asset ledger |
| Launch distribution | No premine |
Market figures from the 28 October 2026 build. Open the live view for every exchange's price, and charts.
A+ — 82 out of 100, provisional (from 19 of 20 criteria, 28 October 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 77 to 84 (A to A+).
| Criterion | Score | Basis |
|---|---|---|
| Leading Consensus Mechanisms (Source) | 10 | group average |
| Consensus: leader ladder | 10 | Proof of work: 10 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| Consensus: family ladder | 10 | Proof of work: 10 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Cryptocurrency Standards (Source) | 8.4 | group average, 12 of 13 measured |
| Sound Money Qualities (6 checks) | 8 | 4.8 of 6 points source |
| Scarcity: a fixed cap that holds, and a supply near 21 million | 7.9 | fixed maximum supply of 28.7 billion: supply scale 5.7, cap 10 |
| Durability: five years or more with no halt, freeze or reversal | ✗ | 4 full years since its first recorded price, no halt, freeze or reversal in five years |
| Fungibility: every unit interchangeable, none the protocol can freeze or set apart | ✓ | no authority can freeze, blacklist or set apart a coin |
| Divisibility: the smallest unit worth a cent or less | ✓ | 8 decimal places, the smallest unit worth $3.6e-10 |
| Portability: fees of a cent or less and capacity for real demand | ✓ | typical fee $0.00007; about 2,500 transactions a second (10 on the throughput scale; 5 is the busiest networks' median demand) |
| Verifiability: open-source nodes and checking without a trusted server | ✓ | node software open source; pruned nodes validate everything |
| Privacy (5 checks) | 4 | 2 of 5 passed source |
| Whitepaper privacy: keys are not tied to an identity | ✓ | Anyone can generate keys and receive and send coins; the consensus rules carry no identity check. |
| UTXO ledger: a new key for each payment, no account linking every coin | ✓ | |
| Network-level privacy: the node hides where a transaction came from (Dandelion++, Tor or I2P, on by default) | ✗ | rusty-kaspa relays transactions directly; no Dandelion or Tor. |
| Hidden amounts (confidential transactions, RingCT, shielded pools, Mimblewimble) | ✗ | No confidential transactions. |
| Hidden sender and receiver (ring signatures or zero-knowledge proofs, one-time or stealth addresses) | ✗ | No sender or receiver hiding. |
| Scalability (fees, throughput, block time, block space, features) | 6.7 | average of 5 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0.00007 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 119, the median of the ten busiest, 5) | 10 | about 2,500 simple transactions a second |
| Block time (10 minutes 10, less either side) | 0 | a block every 0.1 seconds |
| Block space per 10 minutes (32 MB or more 10) | 10 | 0.25 MB limit (converted from its gas, compute, mass or count limit), 1500 MB per 10 minutes |
| Features (3 checks) | 3.3 | 1 of 3 passed |
| Payments safe to accept within seconds | ✗ | 10 blocks a second, but GHOSTDAG confirmation is probabilistic (about 10 s) and rusty-kaspa supports replace-by-fee, so fast blocks alone do not qualify. |
| Pruned nodes: a full node can validate and drop old history | ✓ | kaspad prunes block data below the pruning point by default; --archival is opt-in. |
| Light clients verify payments from headers or proofs, without a trusted server | ✗ | No SPV or light-client protocol yet; wallets connect to a node's RPC. |
| Security (miner pay and 7 checks) | 7.6 | 5.9 of 7 points, 2 not yet measured source |
| Miners paid a day ($1,000 0, $10 million or more 10), 2 points | 4.5 | about $63,290 a day |
| Its own hashrate: at least half its algorithm's largest, not merge-mined | ✓ | |
| Largest pool or validator under 50% | – | |
| Largest three under 75% | – | |
| More than one maintained client | ✓ | 2 |
| Node software is open source | ✓ | Volunteer core contributors maintain rusty-kaspa and the Go kaspad; the Kaspa Ecosystem Foundation funds some work but does not control the client. |
| Real on-chain use: 1,000+ transactions a day | ✓ | about 83,551 a day |
| No 51% attack or deep reorganisation in five years | ✓ | |
| Programmability (tokens, contracts, 5 checks) | 6.3 | 5 of 8 points, 1 not yet researched source |
| Token issuance at protocol level, validated by its own nodes | 2 | Covenants with consensus-tracked covenant IDs (KIP-17, KIP-20) active since the Toccata hard fork of 30 June 2026, on which the KCC-20 fungible-token standard (finalised October 2026) runs; before that, KRC-20 was only an indexer metaprotocol. |
| Smart contracts: scripting for spending conditions | 1 | The Toccata hard fork (30 June 2026, KIP-16/17/20/21) added introspection, OP_CAT and ZK verification for covenants, but no applications run on mainnet yet, so it scores as scripting for spending conditions. |
| Multisig and time locks | ✓ | OpCheckMultiSig plus OpCheckLockTimeVerify and OpCheckSequenceVerify in the txscript engine. |
| Atomic swaps with other chains | ✓ | OpSHA256 with OpCheckLockTimeVerify/OpCheckSequenceVerify expresses an HTLC. |
| An exchange built into the protocol | ✗ | No exchange in the consensus rules; any DEX is a covenant application. |
| Cross-chain messaging the chain verifies itself | ✗ | No protocol messaging to other chains; Kasplex is a separate L2. |
| Non-fungible tokens | – | Covenant IDs (KIP-20) could track unique tokens, but the finalised KCC standards cover only fungible tokens and no NFT standard is documented. |
| Decentralisation | 9.8 | section average, 7 of 8 measured |
| Censorship resistant (Source) | 10 | No authority can halt the chain or freeze funds: No party can freeze coins; no halts on record. source |
| No central team (Source) | 10 | No central team: Volunteer core contributors maintain rusty-kaspa and the Go kaspad; the Kaspa Ecosystem Foundation funds some work but does not control the client. source |
| Who can mint (Source) | 10 | Proof of work: 10 of 10 on the ladder of who produces blocks |
| Nodes (Source) | 8.5 | 344 reachable nodes source |
| Holder concentration (Source) | — | Not yet measured |
| Premine (allocated at launch) | 10 | Fair launch: no premine |
| Fundraising | 10 | No sale of the coin |
| Developer share (after launch) | 10 | No developer share: every new coin goes to the miners who produce blocks |
| Supply & Demand | 6.5 | group average |
| Supply & Demand (Source) | 7.2 | average of 6 measures |
| Exchanges (10 or more: 10) | 10 | 31 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 5.8 | $5,786,031 traded in 24 hours; #173 by volume on the exchanges the site reads (scored on the median day of the last 30, $8,042,335) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 5.6 | 0.73% of its market cap a day, median of the last 30 days |
| Order-book depth (bids and asks within 2% ÷ market cap, 1%: 10) | 6.7 | $982,849 within 2% of the price on 6 exchanges, 0.10% of its market cap, median of the last 2 days |
| Market cap ($1M 0, $10B or more 10) | 7.5 | $988M, 7.5 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 7.8 | futures, options and margin positions 5.0% of its market cap |
| Supply (smaller is better) | 5.7 | fixed maximum supply of 28.7 billion |
| Record | 7.3 | group average |
| Record (origin, claims, halts) | 10 | 3 positive, 0 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
| Age (years since genesis) (Source) | 4 | 4 full years since 2022-06-01, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, improvements, unfixed issues) | 8 | 3 positive, 0 negative, 1 not yet researched source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 433 commits in 12 of the last 12 months (github.com/kaspanet/rusty-kaspa); kaspanet/rusty-kaspa v2.1.0, 2026-09-22; 9 stable releases in 24 months. |
| Shipped a scaling upgrade in two years, +1 | ✓ | Crescendo hard fork, 5 May 2025: 1 to 10 blocks per second. |
| Shipped a new capability for users in two years, +1 | ✓ | Toccata hard fork (rusty-kaspa v2.0.0), about 30 Jun 2026: covenant opcodes, covenant IDs and ZK-verification opcodes. |
| Not yet researched | ||
| Shipped a security fix in two years | – | |
Twenty criteria, weighted equally. The Cryptocurrency Standards have six sections: sound money qualities (six checks: scarcity, durability, fungibility, divisibility, portability, verifiability), privacy (five checks), scalability (four measures and three features), security (miner pay and seven checks), programmability (token issuance, smart contracts and five checks) and decentralisation (censorship resistance, no central team, who can mint, nodes, holders, premine, fundraising and developer share). Provisional: criteria marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
27,780,373,131 of a maximum 28,704,026,601 KAS are in circulation — 96.8% of the total that will ever exist.
| Nodes or validators | 344 |
|---|
Kaspa is secured by 368 PH/s of its own work. Hashrate does not compare across algorithms — a SHA-256 hash and a Scrypt hash cost different amounts to produce.
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
Kaspa is #27 among cryptocurrencies and #75 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 48 places between Kaspa's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).