Kaito AI token defies influencer selling pressure with 50% price rally

Kaito Token Rallies Despite Heavy KOL Selling Pressure

Kaito’s token has climbed nearly 50% since its highly anticipated airdrop on Feb. 20, maintaining upward momentum despite heavy selling pressure following the token generation event.

Kaito AI’s Airdrop and Token Allocation

Crypto intelligence platform Kaito AI, which brands itself as the “ultimate Web3 information platform,” launched its airdrop claims on Feb. 20, allocating 10% of its token supply to the current airdrop and nearly 20% to future airdrops and community incentives, Cointelegraph reported.

Kaito Token’s Market Performance

The Kaito AI (KAITO) token rose over 49.5% in the 24 hours leading up to the time of publication, trading above $1.74 with a market capitalization exceeding $421 million, according to CoinMarketCap data.

Insider Allocations and Selling Pressure

Despite concerns that insider allocations could create selling pressure, the Kaito token has continued its rally.

Some of the largest recipients of the airdrop — including high-profile crypto influencers, also known as key opinion leaders (KOLs) — have sold significant portions of their Kaito allocations.

KOLs’ Selling Activity

Popular crypto influencer Ansem received $230,000 worth of Kaito tokens and sold all of his supply.

Anthony Sassano, Ethereum educator and investor, received $185,000 worth of Kaito and also sold it all, while Helius Labs CEO Mert sold 80% of his allocation, worth $340,000, according to a Feb. 21 X post from crypto intelligence platform Arkham.

Initial Selling Concerns

Part of the initial selling concerns stemmed from on-chain analysts who pointed out that a significant portion of the token supply was allocated to insiders. According to on-chain investigator RunnerXBT, 43.3% of Kaito’s total supply was designated for insiders, including 35% for the team and 8.3% for early investors.

Kaito AI’s Technology and Recognition

Despite the criticism, Kaito AI’s technology has gained recognition within the industry.

Marcin Kazmierczak, co-founder and chief operating officer of blockchain oracle solutions firm RedStone, told Cointelegraph that he does “not know a single serious marketer that wouldn’t use Kaito stack.”

Crypto Scams and Airdrop Claim Pages

Meanwhile, crypto scammers are already banking on the excitement around the project by creating fake airdrop claim pages to trick unknowing investors into sharing their cryptocurrency wallet addresses.

Conclusion

The Kaito token’s rally despite heavy KOL selling pressure is a testament to the project’s potential and recognition within the industry. However, the rise of crypto scams and airdrop claim pages highlights the importance of vigilance and due diligence when participating in such projects.

FAQs

Q: What is Kaito AI’s token allocation strategy?

A: Kaito AI has allocated 10% of its token supply to the current airdrop and nearly 20% to future airdrops and community incentives.

Q: What is the current market capitalization of the Kaito AI token?

A: The Kaito AI token has a market capitalization exceeding $421 million, according to CoinMarketCap data.

Q: Who are some of the key opinion leaders (KOLs) that have sold their Kaito token allocations?

A: Some of the largest recipients of the airdrop, including high-profile crypto influencers Ansem, Anthony Sassano, and Helius Labs CEO Mert, have sold significant portions of their Kaito allocations.

Q: What is the current price of the Kaito AI token?

A: The Kaito AI token is currently trading above $1.74.

Q: How can I claim my Kaito AI airdrop?

A: You can claim your Kaito AI airdrop on the official airdrop claim page, which will be available for claimants until March 22.