Kaito (KAITO) has surged by 26% in the past 24 hours, driven by its listing on Upbit, further expanding its presence on major centralized exchanges. The token is now trading at $1.82, with a 24-hour trading volume of $996 million—an increase of 108%.
Upbit Listing Fuels Market Excitement
Upbit has added KAITO to its KRW, BTC, and USDT markets, with deposits exclusively available through the Base network. While the listing marks a significant milestone, Kaito had already secured listings on Binance, Coinbase, Kraken, OKX, Gate.io, Bybit, and MEXC on February 20, coinciding with the token’s generation event and airdrop campaign.
Airdrop Sell-Off and Market Impact
Following the airdrop, the top 12 claimants collectively received approximately $3.3 million worth of KAITO. However, 10 of them quickly sold most of their holdings, with eight fully exiting their positions right after claiming their tokens.
Data from Dune Analytics shows that 83.4% of airdrop claimants have either sold or transferred their tokens, while only 15.7% are still holding. Meanwhile, a few addresses have accumulated more KAITO, indicating selective buying interest.
Price Performance and Market Outlook
After a late-February rally pushed KAITO to its all-time high on February 27, the token experienced a sharp correction, dropping to around $1.50 by early March. At press time, KAITO is trading just below the 21-day EMA ($1.86), which is acting as a dynamic resistance level. A breakout above this level could signal a trend reversal, while failure to hold may lead to further declines toward local support at $1.50.
However, the recent surge in trading volume, fueled by the Upbit listing, suggests strong buying interest. Key resistance lies in the $2.00-$2.10 range. With airdrop sell-offs now largely completed, KAITO’s price appears to be stabilizing, potentially setting the stage for more sustainable growth if market demand remains strong.
