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KAS KAS prices are under pressure, but growing supply imbalances may become an important variable in the coming months.
Kaspa (KAS) prices are currently under pressure, but as supply imbalances intensify, this may become a key factor affecting KAS's trend in the coming months. According to the data settings provided, KAS prices fell by approximately 5.55% to US$0.0322 in 24 hours, continuing the trend of weakness in the entire crypto market.
Market data showed that KAS prices closed at US$0.0329 on September 15, a decline of 5.76% on the day, and the intraday low hit US$0.0323.
Current direct pressures are related to liquidity and broader market risks. Bitcoin and other cryptocurrencies fell on September 15 because the U.S. Senate failed to advance the CLARITY Act, and the procedural vote fell short of the required 60 votes. According to Reuters, the vote was 50 - 49, adding another layer of uncertainty to the broader crypto market.
This pressure is also reflected in Kaspa's exchange capital flows. An article published by Kaspa Daily pointed out that the net inflow per day was 31.28 million KAS, one of the largest single-day inflows in the past month.
In short, more KAS transfers to exchanges increase the supply that is immediately available for trading, especially if the holder transfers the token for the purpose of selling. Although this does not prove that all 31.28 million KAS will be sold, it is an important short-term supply factor.
The other side of Kaspa's story: token economics
Kaspa故事的更大背景在于其代币经济学。Kaspa的固定估计总供应量约为287亿枚KAS，其官方文档显示，截至2026年7月10日，总供应量中约有95%已被挖出。
这意味着网络已接近其主要发行阶段的尾声，进入流通的新增KAS数量相对于现有供应量而言正在变得较小。
Kaspa的发行计划也与比特币四年的减半周期不同。Kaspa协议通过其彩色发行计划，每月将区块奖励按(1/2)^(1/12)的因子减少，从而产生大约一年的减半周期。官方发行表显示，月度奖励将从2026年5月的7232万枚KAS降至2026年9月6日的5740万枚KAS。
$KAS正悄然走向一个数学现实，而市场其余部分完全忽视了这一点。在287亿的#KAS总供应量中，已有超过96.51%被挖出。与等待四年才削减发行的比特币不同，Kaspa正在减少新硬币的数量……
— LearnKaspa (@LearnKaspa) 2026年9月15日
这正是“供应挤压”论点的来源。LearnKaspa指出了超过96%的供应量已被挖出、月度发行量下降以及Kaspa应用程序未来潜在需求这三个因素的叠加。其逻辑很简单：如果新发行的硬币数量持续下降，而对现有供应的需求增加，卖家最终可能没有足够的新鲜供应来满足需求。
相关Kaspa新闻：Kaspa价格在再次潜在反弹前需经历重要测试！
该论点还包含技术层面的考量。Kaspa表示，引入通过契约、交易自省、ZK验证和排序支持的可编程UTXO的功能Toccata，已于2026年6月30日在主网上线。其文档列出vProgs是一项仍在建设中的技术，因此关于机构应用和稳定币即将争夺KAS供应的说法应被视为未来用例，而非既定的需求。
目前，KAS价格仍显紧张。该代币从9月1日的约0.0275美元交易至9月15日的0.0329美元，表明市场已恢复了一部分9月初的跌幅。
关键问题在于，未来的需求是否最终能够吸收不断缩小的新开采KAS流量，因为这是潜在供应挤压理论背后的数学基础。
常见问题解答
Kaspa现在的价格是多少
根据文章中使用的市场数据，KAS价格约为0.0322美元，在24小时内下跌了约5.55%。
Kaspa总供应量的多少已被挖出
Kaspa总供应量的95%以上已被挖出。Kaspa的月度发行计划也会减少区块奖励，意味着进入流通的新增KAS数量持续下降。
Kaspa会面临供应挤压吗
如果Kaspa的新增发行量减少与对KAS的需求增强相结合，Kaspa可能会面临更紧张的可用供应。然而，供应挤压并非必然，因为交易所流入、持有者抛售、市场状况以及实际网络使用情况都会影响买家可获得的KAS数量。
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