I just looked at Kaspa's activity and something interesting is happening. The network is delivering a steady 388 TPS, and the hash rate remains at 421 PH/s — miners clearly believe in the project despite constant reward reductions. This is already the second Kaspa halving this month, and people are still adding more power. Signal?

Currently, Layer-2 has the most balanced picture of all I've seen: Igra holds at 1168 for the third day, Kasplex has returned to 123, Kasia is at 114. Four protocols simultaneously with serious activity — this is not fake. In 24 hours, 1.36 million transactions have been processed, and the chart shows a narrow fluctuation range (1.32-1.40 million) — a sign of deep, organic demand. Active addresses are at a healthy level, with peaks above 1500 regularly visible.

Overall statistics are impressive: 1.62 billion transactions all time, 95 million active addresses. The ecosystem is clearly operating at full capacity. And the price? $0.03 with a market cap of $920 million. The gap between on-chain activity and market valuation is only growing. Stable 388 TPS, consistent hash rate, three protocols above 100 simultaneously — yet the price does not reflect the fundamentals. An interesting situation to watch.