Original | Odaily Planet Daily (@OdailyChina)
Author｜Nan Zhi (@Assassin_Malvo)
Yesterday, the largest KRC20 inscription on the Kas chain, KDAO, began minting. The FOMO level began to rise rapidly in the afternoon. This inscription has a total supply of 15 million pieces but was still completed within a day, with network fees increasing more than tenfold during the FOMO period.
According to the author’s observation, apart from a few inscriptions and runes on the Bitcoin mainnet, the inscription ecosystem on various chains is perceived as 'dead' by most users. However, several inscriptions with a market cap of tens of millions of dollars were born on Kas in September, and the market cap of KDAO also broke the ten million mark last night. Odaily will introduce the current market situation and tools for KRC20 inscriptions in this article, aiming to help readers quickly understand this market.
Market Situation
The leading KRC20 token is NACHO (Black Cat), with a current market cap of $67.2 million and a total supply of 10 million pieces. The official account is @NachoWyborski.
Its original concept is Nacho, the pet cat of Kas co-founder Shai. In fact, this token was deployed and ready to mint as early as June 30, but was paused for several months due to issues with the Kas network. It reopened on September 15, with an initial market cap of about $2 million, peaking over $80 million.
Another leading token is KASPER, with a current market cap of $39 million and a total supply of 1 million pieces. The official account is @KasperCoin. This inscription started on the same date as NACHO (the evening of September 15). Due to a much smaller total supply, it was completed first, and it is currently listed on exchanges like XT.com and CoinEx.
In addition to the two leading tokens mentioned above, there are currently several inscriptions with a market cap exceeding $10 million, among which KDAO was deployed and started minting at four o'clock yesterday morning. Due to the trading prices in the market being consistently higher than the Mint cost during the minting period, a lot of 'brick-moving parties' appeared yesterday morning, immediately selling in the trading market for profit after completing the mint.
At noon, the popularity of KDAO rose rapidly, and the Kas network's low-speed fees increased to over 2, with price differences continuously decreasing. Subsequently, the price steadily rose with the minting costs.
The inscription minting was completed at 10 PM, and the price continued to rise. The current price per piece is $0.788, corresponding to a total market cap of $11.82 million.
Detailed Explanation of KRC20 Tools
KAS Withdrawal
Current exchanges supporting KAS spot trading include Bybit, Bitget, Gate, etc. However, due to multiple exchanges suspending KAS withdrawals for KDAO, it is recommended that users withdraw from Bybit first, with a withdrawal fee of 5 KAS (approximately $0.65).
KRC20 Market
The author recommends using the tool Kas.fyi to check prices and minting progress, which can cover most data needs.
KRC20 Minting and Market
Currently, the only conventional tool for minting KRC20 inscriptions is the KSPR Bot, with no similar competitors. Users can see 10 options on the main interface, corresponding to 10 independent addresses (i.e., each Telegram account can create 10 wallets for parallel minting).
After creating a wallet and completing the transfer upon entering the Bot, users can start the minting process using the /mint command. They will sequentially input the 'inscription name', 'quantity (how many)', and 'network fee', and the Bot will automatically execute until the quantity reaches the preset limit or the user manually stops it.
The network fee can be matched at three levels: Low, Medium, and High, or a number can be directly input. It is important to note that even if using 1 KAS of Gas energy for minting on the Kas network, the minting speed will be lower than normal Gas.
In addition, KSPR's model is a one-time payment, settled after the task is completed, and the Bot cannot recognize whether the inscription has reached its limit, requiring users to manually stop minting, settle, and retrieve the remaining Kas.
In terms of trading, the most mainstream trading market is also in KSPR. Users can enter using the /marketplace command and click on the corresponding orders to purchase. If selling is needed, they can enter the order menu through the /mylistings command to create and manage listings.
Who is really pushing and taking over the market?
Currently, KRC20 is still not very popular in the Chinese community. We do not know who is maintaining the high market cap and high trading volume behind the scenes. Some users believe this may be a 'KAS miner conspiracy'. Perhaps this is not important; observing the trends of leading tokens and the profit effect of the market, participating in a timely manner before profits disappear is what matters most.
