Kite, a man-made intelligence (AI)-powered funds blockchain, rolled out its native token on Monday, producing vital buying and selling quantity on South Korean exchanges Upbit and Bithumb.
The token debuted with sturdy market exercise on the entire, reaching a $159 million market capitalization and an $883 million totally diluted valuation (FDV) inside its first few hours of buying and selling, in keeping with knowledge from CoinMarketCap.
Buying and selling quantity on Binance topped $85 million with an identical determine being achieved on Upbit and Bithumb, complete quantity stood at $263 million at press time.
The launch follows Kite’s $18 million Sequence A elevate in September, which introduced its complete funding to $33 million. The spherical was geared toward accelerating the event of Kite’s base layer for AI-driven funds and autonomous agent techniques.
Kite’s native token underpins its “agentic financial system, serving because the medium for funds, staking, and governance throughout its blockchain community. It permits machine-to-machine and agent-to-agent transactions, permitting autonomous AI brokers to execute funds, entry knowledge, and buy compute assets.
Complete provide of the token is capped at 10 billion, with 48% being allotted to the neighborhood, 12% to traders and 20% to the staff and early contributors, in keeping with Kite’s whitepaper.
