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crypto.news 2025-03-05 09:38:31

Kaito price is up 25% following Upbit listing

Kaito price is up 25% following Upbit listing

Kaito surged by 26%, fueled by its listing on Upbit, adding to its growing presence on major centralized exchanges. Upbit has just listed Kaito ( KAITO ) on its KRW, BTC, and USDT markets, with deposits only available through Base—other networks are not supported. Buoyed by the listing, KAITO is up 25% in the past 24 hours, trading at $1.82 at press time, with 24-hour trading volume of $996 million, up by 108%. Though the Upbit listing is a significant milestone for Kaito, it’s not the first major exchange to list the token. Binance, Coinbase, Kraken, OKX, Gate.io, Bybit , and MEXC all listed KAITO on Feb. 20, coinciding with the token’s generation event and the start of its airdrop campaign. You might also like: KAITO surges over 100% after exchange listings, but correction looms Speaking of airdrop, the top 12 aidrop claimants received a combined total of approximately $3.3 million worth of KAITO, but 10 of them have already offloaded most of their holdings, with 8 completely exiting their positions right after the airdrop . As of now, 15.7% of airdrop clamants are still holding onto their KAITO tokens, while 83.4% have either sold or transferred most of theirs, according to Dune Analytics . A small number of addresses have accumulated more tokens. This suggests that the majority of Kaito’s airdrop claimants have chosen to liquidate their tokens rather than hold onto them for long-term profits. Source: Dune Analytics As far as Kaito’s recent price performance is concerned, after the late Feb. rally that propelled KAITO to its all-time high on Feb. 27, Kaito experienced a sharp correction, retracing much of its gains. By early March, Kaito had dropped to around $1.50, marking a significant pullback from its peak. At press time, Kaito is trading slightly below the 21 EMA ($1.86), acting as its dynamic resistance. A breakout above this level could signal a potential reversal, while failure to hold could lead to further declines towards the local support level of $1.50. However, the recent spike in volume, likely the result of the Upbit listing, indicates strong buying pressure with key resistance lying around the $2.00-$2.10 range. Moreover, since 10 of the aidrop top claimants have already taken profits, KAITO’s price now stands on a more stable foundation, which could allow it to consolidate at a more sustainable level, especially if traders continue to show interest in the token. Source: crypto.news You might also like: Kaito tokenomics out – concerns over insider allocations mount

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