Late last night I was half-scrolling charts when KITE popped up again. Sitting around $0.116, market cap somewhere near $290–300 million, fully diluted still over a billion. About 2.56 billion tokens out of a 10 billion total. Down more than 60% from that March high near $0.32. Nothing wild happening, just this quiet grind while the agent story keeps getting talked about.
They’re trying to build a chain where AI agents can actually spend money with real limits. User sets the rules, agent operates inside them, sessions can be timed or capped. Passport is the product that makes it usable. Stablecoin payments on their own EVM Layer 1. The problem feels real enough — agents are already moving value elsewhere. Whether this specific chain is needed is another question.
What keeps nagging at me is the gap. Testnet looked busy. Mainnet so far feels thinner. The price still seems more tied to the narrative and the names behind it than to actual settlement numbers you can check.
Then there’s the unlock. Something like 1.1 billion tokens coming free in early November — close to half the current circulating supply. Team and investor cliffs land around the same time. People using the tools don’t necessarily need to hold the token. The ones holding it take the supply hit.
Utility is still mostly on the roadmap — staking, governance, commissions later. Whether that creates real demand is unclear.
I keep coming back to the same simple thing: does the actual agent payment activity grow, or are we still mostly pricing the idea?
$KITE #KiteBBW @KITE AI
They’re trying to build a chain where AI agents can actually spend money with real limits. User sets the rules, agent operates inside them, sessions can be timed or capped. Passport is the product that makes it usable. Stablecoin payments on their own EVM Layer 1. The problem feels real enough — agents are already moving value elsewhere. Whether this specific chain is needed is another question.
What keeps nagging at me is the gap. Testnet looked busy. Mainnet so far feels thinner. The price still seems more tied to the narrative and the names behind it than to actual settlement numbers you can check.
Then there’s the unlock. Something like 1.1 billion tokens coming free in early November — close to half the current circulating supply. Team and investor cliffs land around the same time. People using the tools don’t necessarily need to hold the token. The ones holding it take the supply hit.
Utility is still mostly on the roadmap — staking, governance, commissions later. Whether that creates real demand is unclear.
I keep coming back to the same simple thing: does the actual agent payment activity grow, or are we still mostly pricing the idea?
$KITE #KiteBBW @KITE AI