Kaspa's intricate technology causes postponements in listings while exchanges focus on ensuring security.

Kaspa (KAS) is a proof-of-work digital currency featuring advanced blockchain architecture, yet it has not been added to major platforms like Binance, despite its strong fundamentals. Nicholas Sismil, a digital asset specialist and former Binance US employee, attributes this to the extensive vetting process required for proof-of-work and Layer-1 (L1) assets. “Establishing a node for the wallet team to support proof-of-work and L1 tokens is a lengthy process, primarily because it involves comprehensive security checks of both the protocol and the token,” Sismil notes. This thorough review, which may take up to eight months, highlights how exchanges carefully scrutinize intricate protocols such as Kaspa. The unique features of Kaspa, like its BlockDAG framework, add further layers of complexity to these audits, as exchanges must verify asset stability before making them available Why Have Binance and Other Major Exchanges Not Listed Kaspa? [ 1 ].

Although the wait is discouraging for some investors, it emphasizes the critical role of security in the cryptocurrency industry. Kaspa’s fully decentralized structure and the absence of a foundation wallet—unlike projects such as

or Sui—make the process even more intricate. Wolfie, a prominent member of the Kaspa community, points out that leading exchanges typically demand in-depth technical assessments and require non-disclosure agreements (NDAs) to ensure regulatory compliance. Kraken has received recognition for its openness and professionalism in its interactions with Kaspa. Despite lengthy negotiations, Wolfie confirms that technical discussions with Binance are ongoing, with the exchange reportedly posing “technical questions for the past six weeks.” According to him, the lack of a listing is not due to a lack of interest, but rather the need for a sound business rationale before moving forward The Deets: Why Binance is Taking So Long, and Who is Behind … [ 2 ].

Meanwhile, Kaspa’s ecosystem is expanding through organic growth. The Kaspa Ecosystem Fund (KEF), which receives backing from ASIC producer IceRiver, has provided resources for infrastructure and community projects. Initiatives such as Igra Labs’ EVM-compatible Layer-2 solutions and Kasplex’s scalability advancements showcase the network’s growing capabilities. Wolfie also emphasizes the significance of KEF in supporting the project’s steady development. “Some criticize KEF, but they’re not selling off coins—they’re funding essential expenses that drive Kaspa’s progress,” he explains. This grassroots approach has enabled Kaspa to avoid the corporate-driven models of many rivals, nurturing a community-led environment The Deets: Why Binance is Taking So Long, and Who is Behind … [ 2 ].

An intriguing aspect of Kaspa’s story is the enigmatic Wallet 2, which contains about 800 million KAS. Observers believe this wallet, which has gathered assets solely from Bybit and Gate.io, is associated with DWF Labs, a market maker recognized for providing liquidity. DWF’s proficiency in over-the-counter (OTC) trades and cross-platform operations mirrors the activity of Wallet 2, indicating a deliberate accumulation of liquidity in anticipation of future listings. This could point to upcoming developments, such as new trading pairs or ecosystem partnerships, though Wolfie cautions that “not every move is public. Some quietly accumulate, work behind the scenes, and lay the groundwork for what’s next” The Deets: Why Binance is Taking So Long, and Who is Behind … [ 2 ].

The possibility of being listed on major exchanges remains a significant driver for Kaspa’s prospects. Analyst Crypto T believes that once top-tier listings are achieved, both liquidity and user adoption will rise sharply, potentially pushing KAS toward its record $1 price. Sismil concurs, describing Kaspa’s daily trading activity as a “gold mine” for trading platforms. However, the current waiting period might actually be advantageous, giving the project time to strengthen its infrastructure and community. As Wolfie observes, Kaspa’s lack of centralized oversight has preserved its fair-launch ethos, with no pre-mined coins or foundation-controlled wallets. This level of decentralization, while presenting challenges for exchanges, has helped build a robust and active community Why Have Binance and Other Major Exchanges Not Listed Kaspa? [ 1 ].

To sum up, the slow pace of Kaspa’s listings on leading exchanges, though seemingly a setback, actually reflects the project’s complexity and the sector’s focus on security. The ongoing technical assessments by exchanges and the organic expansion of the ecosystem set the stage for Kaspa’s long-term achievements. As both Wolfie and Sismil suggest, the wait for exchange listings could ultimately be beneficial, allowing the project to establish a solid base before reaching a wider audience. With significant progress in Layer-2 solutions and liquidity planning underway, Kaspa is well-positioned to take advantage of market opportunities that may arise after it is listed The Deets: Why Binance is Taking So Long, and Who is Behind … [ 2 ].