The cryptocurrency market has witnessed a significant surge in Kaito (KAITO) price following its latest listing on Upbit, one of South Korea’s leading exchanges. In the past 24 hours, KAITO has jumped 25%, currently trading at $1.82, with trading volume skyrocketing by 108% to reach $996 million.
Upbit Listing Fuels Kaito’s Momentum
Upbit has officially added KAITO to its KRW, BTC, and USDT markets, though deposits are currently only supported through the Base network. This listing further solidifies KAITO’s standing among major centralized exchanges, joining the ranks of Binance, Coinbase, Kraken, OKX, Gate.io, Bybit, and MEXC, which all listed KAITO on February 20. This milestone coincided with the token’s generation event and the start of its airdrop campaign.
Airdrop Holders Mostly Cash Out
The KAITO airdrop saw its top 12 claimants receive approximately $3.3 million worth of the token. However, 10 of them have already liquidated most of their holdings, with eight exiting completely right after the airdrop. Data from Dune Analytics reveals that 83.4% of airdrop recipients have either sold or transferred most of their KAITO tokens, while only 15.7% are still holding onto them. Meanwhile, a few addresses have begun accumulating KAITO, hinting at potential long-term interest.
Price Action and Market Outlook
Following its late-February rally, KAITO hit an all-time high on February 27 before undergoing a sharp correction. By early March, it had retraced to around $1.50, reflecting a significant pullback. At present, KAITO is trading slightly below the 21-day Exponential Moving Average (EMA) of $1.86, which is acting as a key resistance level. A breakout above this threshold could indicate further upward momentum, while failure to hold above current levels might lead to another decline toward the $1.50 support zone.
Despite these fluctuations, the recent increase in trading volume—likely driven by the Upbit listing—suggests strong buying interest. Resistance levels are currently projected around the $2.00–$2.10 range. With the majority of airdrop recipients having already taken profits, KAITO’s price could find a more stable footing, setting the stage for potential consolidation at sustainable levels if market enthusiasm persists.
Conclusion
Kaito’s Upbit listing has undoubtedly fueled fresh momentum for the token, drawing increased attention from traders. While short-term volatility remains a factor, the market’s response and trading activity indicate that KAITO’s presence among top-tier exchanges is solidifying its market position. Investors will be watching closely to see whether KAITO can break key resistance levels and sustain its current bullish trend.
