KAITO HAS A BIG SELLING PROBLEM.
$KAITO dropped from $1.38 on July 29 to $0.46 today, and every bounce since has been sold.
Another unlock is coming on August 20: 32.6M tokens worth ~$15M, equal to 3.3% of supply.
More tokens could hit the market.
The bigger problem is the story losing strength. X partnership, Katalyst and Kaito Studio have not brought buyers back.
Leverage made the fall worse.
Two Hyperliquid wallets opened $6.94M in 5x longs near $1.11–$1.12, while another trader closed an 8-day long with a $1.98M loss.
This may not be the bottom. KAITO is simply losing the hype.
$KAITO dropped from $1.38 on July 29 to $0.46 today, and every bounce since has been sold.
Another unlock is coming on August 20: 32.6M tokens worth ~$15M, equal to 3.3% of supply.
More tokens could hit the market.
The bigger problem is the story losing strength. X partnership, Katalyst and Kaito Studio have not brought buyers back.
Leverage made the fall worse.
Two Hyperliquid wallets opened $6.94M in 5x longs near $1.11–$1.12, while another trader closed an 8-day long with a $1.98M loss.
This may not be the bottom. KAITO is simply losing the hype.