Crypto appears to have a peculiar way of calming down after all the fireworks. #KİTE is a case in point. Barely six weeks have passed since it launched on Binance Launchpool in early November, and now the token is trading actively at a fixed level of $0.086. The thrill is over, but KITE is not gone. With a market cap of $155 million and healthy trading volume, this project feels more like a token in limbo rather than a flash in the pan.
For most people, their introduction to KITE would have been via Launchpool staking. Locking in a bottle of BNB or stablecoins for a quick farming term seemed appealing, almost effortless. The spotlight now is on actual fundamentals rather than rewards. Kite’s vision is still ambitious. A blockchain for AI agents rather than human button-pushers. Using KitePass, these AI agents are now able to have identities, follow programmable rules, and make instantaneous payments in stablecoins via the x402 protocol. The vision is evident machines paying machines, very cheap and very fast.
Having such a backing does help in this story. PayPal Ventures and Coinbase Ventures’ support lends Kite an air of credibility that most other AI tokens do not have. PayPal’s increasing interest in stablecoins definitely makes this a case of interesting overlap rather than coincidence.
However, caution is advised. With a total supply of 10 billion, only 1.8 billion tokens are in circulation.
Additionally, in the future, if adoption fails to keep up, unlocks may negatively impact prices.
On a different note, a competitive market in AI crypto is emerging. While other projects have spoken of economies with agency, very few have tangible usage other than in speculations.
A balance is reflected in the price action. $KITE started strongly, corrections were deep, and since then, a tight range. No breakout, but no failure either. The next step will show if the execution is right. Maybe if genuine AI-driven trading begins to flow through the system, this quiet stage will prove to be a quiet accumulation phase.
