KAITO Token Surges 106% After Exchange Listings
KAITO experienced a significant surge of 106% on February 21 following its token generation event and subsequent listings on major exchanges. CoinGecko data revealed that the Kaito AI (KAITO) token reached an intraday high of $1.87, with a market cap of $458 million, fueled by high-volume trading amounting to over $2.1 billion in the past 24 hours.
The rally was primarily driven by KAITO securing listings on prominent centralized exchanges such as Binance, Coinbase, Kraken, OKX, Gate.io, Bybit, and MEXC. These exchange listings came on the heels of the token generation event held on the same day, which introduced a total token supply of 1 billion.
Presently, KAITO is trading at 1.62 USDT on Binance, marking a 1,521% increase. On Kraken and Bybit, the token is up by 43% and 30.6%, trading at $1.41 and $1.57 respectively.
Despite the current bullish momentum, on-chain data suggests a potential short-lived nature of these gains. Dune Analytics reported that the top 12 claimers of KAITO’s airdrop received approximately $3.3 million worth of tokens, with a majority of them already selling off their holdings, indicating a trend of profit-taking among early recipients.
This profit-taking behavior, influenced by criticisms surrounding KAITO’s tokenomics and airdrop mechanics, could exert downward pressure on the price and lead to a corrective phase in the near future if more holders decide to liquidate their positions.
Nevertheless, social sentiment surrounding KAITO remains positive on platforms like Telegram and X, as indicated by Santiment. The coin is also trending on Google, suggesting increased retail interest, which could help stabilize trading levels and mitigate volatility.
However, sustained price stability is not guaranteed solely by heightened retail attention. If selling pressure from profit-taking persists without matching buying interest from new investors, volatility could spike once again.
At the time of writing, KAITO had retraced over 12% from its all-time high earlier in the day.
What is Kaito?
Kaito AI is a platform powered by artificial intelligence that focuses on web3 insights. The project gained recognition following the launch of Yaps in December 2024.
Yaps is a permissionless protocol that transforms attention into a tradable asset, currently utilized in reward systems and SocialFi applications.
The KAITO token plays a pivotal role in Kaito’s ecosystem, influencing the flow of attention within the InfoFi model—an approach that seeks to quantify and trade information using AI.
Kaito offers various products such as Kaito Pro, an AI-driven crypto intelligence search engine, and Kaito Connect, a network powered by InfoFi that optimizes the movement of attention and capital within the web3 space.