Altcoin Season Ahead? Kaspa’s Asymmetric Potential

There are clear signals pointing toward a new altcoin season, and for Kaspa, this could mark its very first breakout. To illustrate its potential, I will compare Kaspa to three handpicked Layer 1s that experienced their first major altcoin surge in 2021. Each saw explosive growth despite critical design flaws. Kaspa, however, is structurally stronger, making this comparison even more compelling—and the upside potentially massive.

Avalanche had its breakout moment during the 2021 altcoin season, climbing to an all-time high of around $134. For a network that was still finding its footing, that run turned early believers into legends. If Kaspa were to reach the same market cap that Avalanche did at its peak, the price per KAS would be around $1.14, a 13x+ move from current levels.

The difference is that Avalanche carried serious limitations in throughput and decentralization, while Kaspa’s architecture is fundamentally stronger. That means Kaspa not only has the room to repeat a similar performance but also the foundation to potentially exceed it.

If Kaspa followed Cardano’s market-cap trajectory from the last cycle, we’d be looking at a 42× price increase, which would bring KAS to roughly $3.60.

At that point, Kaspa would approach a $100B market cap, and yet even at this level, it would still be extremely undervalued for a project solving the blockchain trilemma: scaling without sacrificing decentralization or security.

For a network with Kaspa’s technology and potential, hitting $100B would barely scratch the surface of its true long-term value. The opportunity here isn’t just price—it’s being part of a project that could redefine what a high-performance, decentralized blockchain looks like.

To put Kaspa’s potential in perspective, consider Solana. Its all-time high market cap in 2021 was around $75B and earlier this year it briefly reached $125B.

If Kaspa were to reach $125B, it would represent a 56× increase, bringing the price to roughly $4.83 per KAS. Even performing like Solana in the last cycle and reaching a $75B market cap, Kaspa would see a 34× increase, translating to about $2.91 per KAS.

Unlike Solana, which has struggled with network outages and instability, Kaspa is built to deliver scalability, security, and decentralization simultaneously.

The opportunity is not just in price, it is in being part of a resilient, high-performance blockchain that sets a new standard for Layer 1 networks.

Final thoughts

Once Kaspa gains momentum again, the potential gains could be enormous. It’s important to note that Kaspa is more organic compared to the three examples. Kaspa is proof-of-work, while the others are proof-of-stake and more centralized. This, in my opinion, is a strength for Kaspa, as it allows for sustainable growth. However, it also means that the price action will likely be more organic and measured, rather than artificial or inflated.

~Fritz