Kaito Surges by 26% Post Upbit Listing

Kaito has risen by 26%, attributed to its recent listing on Upbit, enhancing its presence on major centralized exchanges.

Upbit has listed Kaito (KAITO) on its KRW, BTC, and USDT markets. Deposits are available exclusively through Base; other networks are unsupported. Following the listing, KAITO saw a 25% increase in the past 24 hours, trading at $1.82, with a trading volume of $996 million, up 108%.

Although the Upbit listing is notable, it’s not Kaito’s first major exchange entry. On February 20, Binance, Coinbase, Kraken, OKX, Gate.io, Bybit, and MEXC also listed KAITO coinciding with the token’s generation event and airdrop campaign.

Airdrop Insights

The top 12 airdrop claimants received approximately $3.3 million worth of KAITO. Notably, 10 have offloaded most of their holdings, with 8 completely exiting their positions post-airdrop. Currently, 15.7% of airdrop claimants still hold KAITO tokens, while 83.4% have sold or transferred the majority. This indicates that most airdrop claimants chose to liquidate rather than hold for long-term profits.

Price Performance

Kaito’s price has shown volatility following a late February rally that pushed KAITO to its all-time high on February 27. After this peak, the price dropped to about $1.50 by early March. Currently, KAITO trades slightly below the 21 EMA ($1.86), which acts as dynamic resistance. A breakout above this could signal a potential reversal; failing to hold may see further declines toward $1.50 support. However, the recent trading volume spike suggests strong buying interest, with key resistance noted between $2.00-$2.10.

Given that 10 top airdrop claimants have taken profits, KAITO’s price appears more stable, potentially allowing for consolidation at a sustainable level, especially if trading interest continues.

Source: crypto.news