IntoTheBlock, a market intelligence firm, reports that the AI-focused cryptocurrency Kaito (KAITO) is showing promising long-term growth. Despite a significant initial drop after its much-anticipated launch, the project is gaining traction.
Steady Growth After Initial Airdrop
Kaito’s token launch earlier this year generated a lot of buzz. While many users cashed out their airdrop profits immediately (around 55% of initial addresses emptied), the project continues to attract new users. IntoTheBlock’s data shows that an average of 1,800 new addresses are added daily, resulting in an adoption rate exceeding 30%. Currently, over 41,800 addresses hold Kaito tokens.
Kaito’s Mission: Solving Crypto Fragmentation with AI
Kaito, an information finance (InfoFi) protocol, tackles the problem of fragmentation in the crypto market. This fragmentation arises from the division of markets across different blockchains, creating a lack of interoperability and standardized practices. Kaito aims to solve this by using AI to index vast amounts of information – from social media and news to research papers and podcasts – and deliver actionable insights to users. This is achieved through proprietary search algorithms, large language models (LLMs), and real-time analytics.
Current Market Performance
At the time of writing, Kaito is trading at $1.64, showing a 1.7% increase in the last 24 hours.
Disclaimer: This information is for general knowledge and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies. Investing in cryptocurrencies involves significant risk.
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