KAS to $1.75? The On-Chain Data Behind Kaspa's Scariest Bullish Setup

Original author：Zacchy Crypto Update

Original source：https://www.youtube.com/embed/QKj3AAoRJxU

Kaspa (KAS) is quietly doing what Ethereum did in 2017 — right before ETH went on a historic 50x run. Smart contracts are coming. Supply is nearly fully circulating. Miners are capitulating. And whales aren't moving. Is this the calm before the storm? 👇 Watch to the end — the on-chain data tells a story most people are missing. 🔥 IN THIS VIDEO: Why Kaspa is mirroring Ethereum's 2017 smart contract turning point The Toccata upgrade explained — and why it changes everything for KAS Miner capitulation signal decoded (Hash Ribbons + Puell Multiple) Why LOW open interest on KAS derivatives is actually BULLISH The Binance/Coinbase listing gap — and what happens when it closes KAS supply dynamics that most analysts are ignoring My honest price target analysis and what I'm personally watching 📊 KEY DATA POINTS COVERED: ✅ KAS current price: ~$0.035 ✅ Market cap: ~$980 million ✅ 95% of total supply already circulating ✅ Hashrate down 5.4% — Hash Ribbons in capitulation ✅ Puell Multiple: 0.57 (miner stress confirmed) ✅ Funding rate: +0.54% (traders leaning bullish) ✅ Open Interest: $43.1M (low leverage = healthy base) ✅ 30-day price performance: +8.5% ✅ 90-day price performance: +11.6% ⏱️ TIMESTAMPS: 0:00 — Introduction & Setup 1:20 — The Ethereum 2017 Pattern Explained 3:10 — Kaspa's Toccata Upgrade Breakdown 5:00 — Supply Dynamics & Chromatic Halving 6:30 — The Exchange Listing Gap 8:00 — Miner Capitulation Signal 10:15 — Derivatives & Open Interest Analysis 12:00 — Whale Behavior & NVT Ratio 13:30 — My Honest Take & Price Outlook 15:00 — Closure & Disclaimer 💬 DROP YOUR THOUGHTS: 👉 Are you holding KAS into the Toccata upgrade or waiting for proof of delivery? 👉 Do you think developers will actually build on Kaspa post-upgrade? Comment below — let's debate it! 🔥 📌 SOURCES & REFERENCES: Analyst: KAIZEN (crypto analyst cited in KAS/ETH comparison) On-chain data: CryptoQuant / Glassnode Price data: TradingView Kaspa official development updates 🔔 SUBSCRIBE for weekly deep-dive crypto analysis — we break down what the charts, on-chain data, and market cycles are actually saying before the crowd catches on. ⚠️ DISCLAIMER: This video is for educational and entertainment purposes only. Nothing here constitutes financial advice. Cryptocurrency is highly volatile and speculative. Always do your own research and consult a licensed financial advisor before making any investment decisions. Never invest more than you can afford to lose.