Kite, an artificial intelligence (AI)-powered payment blockchain, rolled out its native token on Monday, generating significant trading volume on South Korean exchanges Upbit and Bithumb.
The token debuted with strong market activity overall, reaching a market cap of $159 million and an $883 million fully diluted valuation (FDV) within the first few hours of trading, according to data from CoinMarketCap.
Trading volume on Binance topped $85 million with a similar figure achieved on Upbit and Bithumb, total volume stood at $263 million at press time.
The launch follows Kite’s $18 million Series A raise in September, which brought its total funding to $33 million. The round aimed to accelerate the development of Kite’s base layer for AI-powered payments and autonomous agent systems.
Kite’s native token underpins its “agentic economy, which serves as the medium for payments, stakes and governance across its blockchain network. It enables machine-to-machine and agent-to-agent transactions, allowing autonomous AI agents to make payments, access data and purchase computing resources.”
The total supply of the token is limited to 10 billion, with 48% allocated to the community, 12% to investors and 20% to the team and early contributors, according to Kite’s whitepaper.
