Yesterday, KDAO, the largest KRC 20 inscription in the Kas chain, opened minting. Starting from noon, FOMO sentiment ignited like a fuse, rapidly heating up. This inscription has a total of 15 million tokens, and all were minted within just one day. During the peak of FOMO sentiment, network fees surged more than tenfold.
The author has observed that in the perception of most users, apart from a few inscriptions and runes on the Bitcoin mainnet, the inscription ecology across various chains seems stagnant, 'already dead.' However, in September, several inscriptions with market values reaching tens of millions of USD were born on the Kas chain, and KDAO's market value also surpassed ten million USD last night. In this article, I will introduce the market status and related tools for KRC 20 inscriptions to help readers quickly understand this market.
Market Status
The leading token of KRC 20 is NACHO (Black Cat), currently valued at 67.2 million USD, with a total of 10 million tokens.
Its native concept originates from Kas co-founder Shai's pet cat Nacho. In fact, this token was already deployed and ready for minting on June 30, but was forced to pause for several months due to problems with the Kas network. It reopened on September 15, with an initial market value of about 2 million USD, and its peak market value exceeded 80 million USD.
Another leading token is KASPER, currently valued at 39 million USD, with a total of only 1 million tokens. This inscription began minting concurrently with NACHO on the evening of September 15. Due to its total supply being far less than NACHO, it completed minting first. Currently, KASPER has been listed on exchanges such as XT.com and CoinEx.
In addition to the two leading tokens mentioned above, there are several inscriptions currently valued over 10 million USD. Among them, KDAO was deployed and began minting at 4 AM yesterday. During the minting period, as the trading prices in the market consistently exceeded the minting cost, a group of 'arbitrageurs' appeared yesterday morning, immediately selling on the market after minting to profit from the price difference.
Around noon, KDAO's popularity rapidly increased, and the low-speed fees on the Kas network rose above 2, with price differences continuing to decrease. Subsequently, prices steadily increased along with minting costs.
At 10 PM, minting was completed, yet prices continued to rise. The current price per token is 0.788 USD, corresponding to a total market value of 11.82 million USD.
KRC 20 Tool Details
KAS Withdrawal
Currently, exchanges supporting KAS spot trading include Bybit, Bitget, and Gate. However, since multiple exchanges have suspended KAS withdrawals, it is recommended that users prioritize withdrawals from Bybit. Bybit's withdrawal fee is 5 KAS (approximately 0.65 USD).
KRC 20 Market
The author recommends using the tool Kas.fyi to check prices and minting progress, which has now covered the vast majority of data needs.
KRC 20 Minting and Market
Currently, the most common tool for KRC 20 minting is KSPR Bot, and there are no similar competing products yet. On its main interface, users can see ten options corresponding to ten independent addresses. This means each Telegram account can create ten wallets for parallel minting.
After entering the Bot, users create wallets and complete transfers, then can start the minting process via the /mint command. They will sequentially input the 'inscription name,' 'quantity (how many),' and 'network fee,' after which the Bot will automatically execute the minting operation until the quantity reaches the preset limit or the user manually stops.
Among them, network fees can be matched at three levels: Low, Medium, High, or users can input numbers directly. It should be noted that even when using a Gas fee of 1 KAS for minting on the Kas network, the minting speed will still be lower than the normal speed under standard Gas fees.
In addition, KSPR's model is a one-time payment, with settlement occurring after task completion. Moreover, this Bot cannot recognize whether the inscription has reached its limit, requiring users to manually stop minting, settle, and retrieve the remaining Kas.
In trading, the most mainstream trading market is also in KSPR. Users can enter via the /marketplace command and click on the corresponding orders for purchase. If they need to sell, they can enter the order menu via the /mylistings command to create and manage listings.
Who is pulling the strings and who is taking the fall?
KRC 20's popularity in the Chinese region is still not high. Who is supporting its high market value and trading volume? We do not know. Some users think this might be the 'KAS miners' conspiracy,' but perhaps that doesn't matter. Observing the trend of the leading tokens and the market's profitability effect, it is crucial to participate in time before competition becomes fierce and profits vanish.