Overview
- Kaspa completed the Toccata hard fork on June 30, activating SilverScript smart contracts, KRC-20 token support, DeFi primitives and zero-knowledge features on the PoW mainnet.
- Several exchanges, including HTX, temporarily suspended deposits and withdrawals before the upgrade to manage the network transition and protect user funds.
- Traders pushed KAS up roughly 15–20% before the activation as short positions were squeezed, and the token then fell about 7.8% within ten hours in a sell-the-news reaction.
- The network keeps operating under proof-of-work with about 95.4% of supply already circulating and near 2.35 billion cumulative transactions, so the upgrade adds execution fees and utility without materially raising issuance.
- Near-term direction is uncertain because short-term indicators improved but long-term technicals remain weak, key price levels sit near $0.03–$0.035 and $0.0249, and broader macro pressure from strong U.S. inflation readings could limit fresh inflows.