TL;DR
- KAITO experienced a 75% growth in its first 24 hours after the airdrop, reaching $1.87 and surpassing $453 million in market capitalization.
- Crypto influencers like Anthony Sassano sold their allocations, sparking debate over selling pressure and token distribution.
- On-chain investigations revealed that 43.3% of the total supply is allocated to insiders, raising concerns about the project’s long-term sustainability.
The KAITO token has surged, with significant market activity following its recent launch and initial distribution. Despite selling pressure from well-known crypto influencers, the token’s value has shown resilience and strong growth.
Yesterday, Kaito AI, a crypto intelligence platform that describes itself as the “ultimate Web3 information platform,” began distributing its token through an airdrop, allocating 10% of its total supply to the event and reserving nearly 20% for future airdrops and community incentives. In the first 24 hours after launch, the token saw a 75% increase, trading around $1.87 per unit and reaching a market capitalization of over $453 million.
However, despite the initial momentum, some of the main airdrop recipients, including prominent industry figures, chose to sell a significant portion of their allocations. For example, Ethereum educator and investor Anthony Sassano received approximately $185,000 in KAITO tokens and decided to sell his entire allocation. These actions sparked community discussions about the token’s distribution structure and its impact on selling pressure.
Concerns Over KAITO Allocations
One of the main concerns centered around the allocation of tokens to insiders. On-chain investigations revealed that 43.3% of KAITO’s total supply is designated for team members and early investors, fueling discussions about fairness and the project’s long-term sustainability.
Despite the criticism, Kaito AI’s technology has been positively recognized within the industry. Marcin Kazmierczak, co-founder and COO of blockchain solutions company RedStone, stated that he considers the platform a valuable tool for marketing professionals in the crypto sector.
However, alongside the excitement surrounding the project, scam attempts involving fake airdrop sites have also emerged. The company has warned users about these fraudulent activities and provided official links to claim tokens safely
