The newly launched KAITO token has made an impressive debut in the crypto market, reaching a fully diluted market capitalization of $1.9 billion.
Despite initial selling pressure following its airdrop claims and exchange listings on February 20, the token has seen significant gains.
As of press time, KAITO is trading at $1.76, up by more than 56% in the last 24 hours, with a global market cap standing at $425.04 million.
Airdrop Rewards Crypto Community Members
Kaito is a unique platform that tracks posts from influential crypto figures on X (Twitter), providing insights into trending topics within the crypto community.
Over the past three months, the platform has rewarded these individuals with “yaps” for generating posts that gained valuable engagement.
On February 20, Kaito held its highly anticipated airdrop, primarily rewarding these “yappers” with KAITO tokens.
According to data from Dune Analytics, 29.21% of the total token supply has already been claimed, with 71,929 accounts participating in the airdrop. Additionally, over 3.8 million KAITO tokens have been staked so far, signalling strong long-term interest from holders.
Exchange Listings Drive Price Surge
The sharp rise in KAITO’s price followed its immediate listing on top-tier centralized exchanges, including Binance, Coinbase, Kraken, OKX, Gate.io, Bybit, and MEXC.
These listings, which coincided with KAITO’s token generation event, provided significant liquidity and accessibility for traders worldwide.
Also Read: Jito ($JTO) Surges Over 20% Following Upbit Crypto Exchange Listing Announcement
Kaito AI is a web3 insights-focused AI-powered platform. Yaps’s December 2024 debut has drawn further attention to the idea. A permissionless protocol called Yaps makes attention a commodity that can be traded. SocialFi applications and reward systems already make use of it.
The token’s total supply is set at 1 billion, ensuring a broad distribution while still maintaining scarcity. With multiple trading pairs available across leading exchanges, retail and institutional investors alike have shown heightened interest in KAITO.
Social Sentiment and Retail Interest Grow
Beyond price movement, KAITO has been gaining traction across social media platforms. Crypto analytics firm Santiment reports that discussions around KAITO have surged on platforms like Telegram and X. Additionally, the token has been trending on Google, a key indicator of growing retail interest.
With a strong community presence and increasing visibility, KAITO appears to be positioned for sustained market momentum. Whether it can maintain its bullish trajectory remains to be seen, but for now, the token is capturing widespread attention within the crypto space.