KAITO Token Surges Over 65% to New High of $1.42
KAITO, the native token of the InfoFi network, has increased over 65% in 24 hours, surpassing $1 and reaching a local high of $1.42. Currently, it trades at $1.3360 with a trading volume of $577.63 million, up 650% from the previous day.
Key developments include:
- Futures open interest rose to $184 million, a two-month high, from $37.7 million last month.
- Derivatives volume surged 1391% to $2.4 billion, indicating heightened speculative activity.
- The integration of Huma Finance’s Yapper leaderboard into Kaito is a key catalyst for the rally.
- The "Earn and Drop" campaign was launched, featuring collaborations that incentivize user engagement.
- Over $72.3 million in rewards have been distributed within the Kaito ecosystem, excluding the upcoming KAITO airdrop.
- The project reports over 200,000 monthly active users, reflecting rapid growth as a Web3 social platform.
Technical indicators show KAITO may be overheated; the RSI is at 89.95, suggesting potential short-term corrections. However, strong bullish momentum persists with a MACD crossover. Fibonacci analysis indicates resistance at $1.42, with potential targets of $1.60–$1.70 if surpassed. Support levels are identified at $1.15 and $1.00.