InfoFi network Kaito's native token crosses $1.9 billion FDV following airdrop to 'yappers'

The KAITO token reached a fully diluted market capitalization of $1.9 billion following initial selling pressure after Thursday’s airdrop claims and exchange listings.

Kaito is a platform that tracks posts from popular crypto individuals on X in order to give an overview of what's being talked about in the community. Over the last three months it has rewarded such individuals with yaps for making posts that received what it saw as valuable engagement among this crowd. Yesterday's airdrop primarily rewarded those 'yappers' with KAITO tokens.

The KAITO token has a total supply of 1 billion tokens. Out of this, 10% was allocated to the pre-listing community and ecosystem airdrop, and around 24% of the supply is circulating on CEXs. 

According to data from Dune Analytics, 29.21% of the total supply has been claimed so far, with the total claimed accounts reaching 71,929. More than 3.8 million have been staked out of the airdropped KAITO tokens. 

While around 70% of claimants received under 50 tokens, one wallet address, “0x433 … e5786,” claimed nearly 560,000 tokens alone — worth over $1 million at current prices.

Meanwhile, several influential individuals in the wider crypto community divested their sizable KAITO airdrop allocations after the airdrop, according to blockchain data tracking firm Arkham Intelligence.

The platform reported that crypto analyst and investor Zion Thomas, known under the pseudonym Ansem, sold his entire $230,000 KAITO allocation, while Helius Labs CEO Mert Mumtaz, the second-largest KAITO claimant with $340,000 in tokens, sold 80%. Ethereum influencer Anthony Sassano also divested his entire $185,000 KAITO allocation.

These large sales led to an initial decline from $1.40 to around $0.90 in the hours following the airdrop. However, the token saw a rebound and KAITO is now trading at $1.96 as of 6 A.M. ET.