Another Million-Dollar Market Cap Inscription: A Quick Guide to the Current State of the KRC20 Market and Tools
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Another Million-Dollar Market Cap Inscription: A Quick Guide to the Current State of the KRC20 Market and Tools
KRC20: I'll quietly rise, then amaze everyone.
Navigating Web3 tides with focused insightsAuthor: Nan Zhi, Odaily Planet Daily
Yesterday, KDAO—the largest KRC-20 inscription by total supply on the Kas network—began minting. FOMO intensified rapidly at noon, driving the complete mint of all 15 million tokens within a single day and increasing network fees more than tenfold during the peak period.
According to the author’s observations, apart from a few inscriptions and runes on Bitcoin's mainnet, most users perceive the inscription ecosystems across various blockchains as “dead.” However, in reality, several inscriptions with market caps reaching tens of millions of dollars have emerged on Kas in September alone. KDAO also surpassed a market cap of ten million dollars last night. This article by Odaily aims to introduce the current state and tools of the KRC-20 inscription market, helping readers quickly understand this emerging space.
Market Overview
The leading KRC-20 token is NACHO ("Black Cat"), currently valued at $67.2 million with a total supply of 10 million tokens. Its official account is @NachoWyborski.
NACHO originated from Nacho, the pet cat of Kas co-founder Shai. Although the token was initially deployed and ready for minting as early as June 30, the process was paused for months due to network issues on Kas and only resumed on September 15, starting with an initial market cap of about $2 million and peaking above $80 million.
Another leading token, KASPER, currently has a market cap of $39 million and a total supply of 1 million tokens, with its official account being @KasperCoin. Launched concurrently with NACHO (on the evening of September 15), KASPER sold out faster due to its significantly smaller supply and is now listed on exchanges such as XT.com and CoinEx.
Besides these two leaders, there are currently several other inscriptions with market caps exceeding $10 million. KDAO, for instance, was deployed and opened for minting at 4 a.m. yesterday. As trading prices on secondary markets remained consistently higher than minting costs during the mint phase, a wave of arbitrageurs (“brick movers”) emerged in the morning, immediately selling newly minted tokens on the market to capture price spreads.
KDAO’s popularity surged rapidly at noon, pushing low-priority transaction fees on the Kas network above 2 KAS. The arbitrage spread gradually narrowed, and prices rose steadily in line with increasing minting costs.
Minting concluded at 10 p.m., but prices continued to climb afterward. The current quoted price per token stands at $0.788, corresponding to a total market cap of $11.82 million.
Detailed Guide to KRC-20 Tools
Withdrawing KAS
Exchanges supporting KAS spot trading include Bybit, Bitget, and Gate. However, due to KDAO-related activity, multiple exchanges have temporarily suspended KAS withdrawals. Users are advised to prioritize withdrawing from Bybit, where the fee per withdrawal is 5 KAS (approximately $0.65).
KRC-20 Market Data
The author recommends using Kas.fyi to monitor prices and minting progress, as it covers the majority of required data needs.
KRC-20 Minting and Marketplace
Currently, the primary tool for KRC-20 inscription minting is KSPR Bot, which has no direct competitors. On the main interface, users see 10 options representing 10 independent addresses (i.e., each Telegram account can create up to 10 wallets for parallel minting).
After launching the bot, creating a wallet, and completing a transfer, users can initiate minting via the /mint command. They then input the desired "inscription name," "quantity (number of tokens)," and "network fee." The bot will automatically execute transactions until the preset quantity is reached or the user manually stops the process.
Network fees can be selected via predefined levels—Low, Medium, High—or entered manually as specific values. Note that while minting can technically proceed with just 1 KAS in gas, the speed will be slower than normal.
Additionally, KSPR operates on a pay-once model, settling after task completion. Importantly, the bot cannot detect whether an inscription has reached its supply cap, so users must manually stop minting, settle the transaction, and reclaim any remaining KAS.
For trading, the dominant marketplace is also integrated within KSPR. Users can enter via the /marketplace command and click on listings to purchase. To sell, use the /mylistings command to access the listing management menu and create or manage sell orders.
Who Is Driving the Price and Taking the Other Side?
KRC-20 remains relatively low-profile in Chinese-speaking communities. It's unclear who is behind the high market caps and trading volumes. Some speculate it might be a “plot by KAS miners.” But perhaps that doesn't matter. Observing leader trends and the market’s profit-making potential, timely participation before opportunities vanish due to excessive competition is what truly counts.
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