卡巴（KAS）持有人的定罪命中历史最高 - 这是什么意思

在通常以短期投机为主的市场中，卡巴（KAS）（KAS）显示出非常不同的迹象：长期定罪。

In the ever-shifting landscape of cryptocurrency, where short-term speculation often takes center stage, Kaspa (KAS) is quietly demonstrating something very different: long-term conviction.

在不断变化的加密货币景观中，短期猜测经常占据中心地位，卡巴（Kas）（KAS）悄悄地展示了截然不同的东西：长期信念。

As shared by Kaspa Daily, latest data reveals that inactive KAS supply has hit all-time highs across multiple timeframes.

正如Kaspa Daily所共有的那样，最新数据表明，不活动的KAS供应在多个时间范围内达到了历史最高点。

To put this in perspective, consider this:

从角度来看，请考虑以下内容：

The chart provides a clear visualization. The blue line showcases the percentage of total circulating supply (CS) that has remained untouched for over three months, while the gray line tracks KAS price over time.

该图提供了明确的可视化。蓝线展示了三个月以上未触及的总循环供应（CS）的百分比，而灰线随着时间的推移会追踪KAS的价格。

Since late 2023, the percentage of inactive supply has been displaying a strong upward trajectory, incrementing from under 55% to nearly 70% by late May 2025. This substantial increase is noteworthy, especially given the ongoing presence of price volatility.

自2023年下半年以来，无效供应的百分比一直显示出强大的向上轨迹，到2025年5月下旬，从低于55％增加到近70％。值得注意的是，尤其是考虑到价格波动的持续存在。

However, even as KAS price (in gray) demonstrates ups and downs, the portion of holders choosing not to move their coins is steadily advancing. This indicates that more people are opting to hold, rather than sell, even during periods of heightened volatility.

但是，即使Kas Price（以灰色为灰色）表现出起伏，但选择不移动硬币的持有人的一部分仍在稳步发展。这表明即使在波动性的增长期间，越来越多的人选择持有而不是出售。

Furthermore, what renders this pattern particularly interesting is the fact that this rise in dormant supply appears to be largely decoupled from the price action. For instance, even during periods of sharp decline, such as those witnessed in January and February 2024, inactive supply either remained stable or continued to increase.

此外，使这种模式特别有趣的是，休眠供应的这种上升似乎与价格行动相比很大程度上是脱钩的。例如，即使在急剧下降的时期，例如2024年1月和2024年2月见证的时期，不活动的供应要么保持稳定或继续增加。

In the cryptocurrency domain, the term “diamond hands” is frequently encountered. However, this chart provides actual, on-chain evidence that Kaspa’s holder base is displaying the characteristics of long-term believers, rather than short-term trend-chasers.

在加密货币域中，经常遇到“钻石手”一词。但是，该图表提供了实际的链链证据，表明卡巴斯的持有人基础显示了长期信徒的特征，而不是短期趋势者。

At multi-timeframe highs, inactive supply suggests:

在多时间框架高点，不活动的供应建议：

This buildup also speaks to the confidence in Kaspa’s roadmap, its technology (including BlockDAG and GHOSTDAG), and its Layer 1 positioning in the broader blockchain ecosystem.

这种堆积还表明了对Kaspa的路线图，其技术（包括BlockDag和Ghostdag）的信心，以及其在更广泛的区块链生态系统中的位置。

While many altcoins tend to rise and fall in accordance with hype cycles, Kaspa seems to be incrementally building a base of true believers. This growing dormant supply underscores that more holders are treating KAS not as a trading token but as a long-term asset.

尽管许多山寨币倾向于根据炒作周期增长和下降，但卡巴似乎正在逐步建立真正的信徒的基础。这种日益增长的休眠供应强调了更多的持有人正在将Kas视为交易代币，而是将其视为长期资产。

In a market saturated with noise, such deep-seated conviction might just be Kaspa’s most underestimated strength.

在充满噪音的市场中，这种深处的信念可能只是卡巴斯最低估的力量。