Coinbase and Binance, two major cryptocurrency exchanges, have added support for a new altcoin called Kaito (KAITO). This AI-focused cryptocurrency operates on the Base network, Coinbase’s own blockchain.
Kaito’s Ambitions and the “Experimental” Tag
Coinbase has labeled Kaito as “Experimental,” indicating it’s a higher-risk investment with potentially lower liquidity. Kaito aims to tackle fragmentation in the crypto market – the problem of different blockchains creating isolated ecosystems with limited communication. It uses AI to analyze and provide data on hard-to-quantify topics, hoping to create new markets based on this information. For example, it could track changes in public sentiment towards specific companies or crypto projects.
Price Dip After Listing
Interestingly, the news of Kaito’s listing on these major exchanges hasn’t boosted its price. In fact, it’s dropped significantly – around 20.8% in the last 24 hours, trading at $0.952 at the time of writing.
Disclaimer
Remember, investing in cryptocurrencies is risky. Do your own research before investing in any digital asset. This information is for general knowledge and shouldn’t be considered financial advice.
