Key Points
- Upbit listed KAITO earlier, supporting the KRW, BTC, and USDT markets.
- KAITO's price surged following the listing announcement.
Earlier today, the largest crypto exchange in South Korea, Upbit, announced the listing of Kaito AI (KAITO), an AI-based virtual asset data platform.
Upbit listed the following trading pairs at 15:00, South Korea's time:
- KAITO/KRW
- KAITO/BTC
- KAITO/USDT
After the crypto exchange announced the listing, KAITO's price surged significantly.
KAITO Price Surged Following the Announcement
Ahead of Upbit's listing announcement, KAITO was trading above $1.48, with a market cap of over $358 million.
After Upbit revealed the listing, the digital asset's price spiked above $1.78, reaching a market cap of over $436 million and recording a surge of over 20% in a relatively short amount of time.
KAITO's price continued to surge, hitting a peak above $2.19, and a market cap of over $529 million before cooling off to current price levels.
At the moment of writing this article, KAITO is trading at $1.96 and the digital asset has a market cap above $475 million. The coin is up by over 27% today.
Previously, KAITO reached its ATH on February 27 above $2.84 when it topped $687 million in market cap.
What is Kaito AI (KAITO)?
KAITO is the native token of the AI-powered InfoFi network. The digital asset plays a few key roles:
- Token holders actively take part in the shaping of the network by influencing the distribution of attention in the AI-powered InfoFi ecosystem.
- KAITO functions as the main medium of exchange within the Kaito ecosystem, and facilitates seamless transactions and interactions.
- The token enables decentralized decision-making, allowing holders to propose, vote, and implement key protocol and algorithm changes.
According to the project, KAITO aligns incentives, empowers participants, and fuels the growth of a fair and efficient AI-powered InfoFi network.
Later today, Binance will launch futures trading for KAITO. The crypto exchange will launch the KAITOUSDT Perpetual Contract at 10:00 (UTC) with up to 25x leverage.
