Will Kaito do another airdrop to hedge against the upcoming token unlock? The community is buzzing with speculation as the August 20 unlock looms. Here’s what you need to know.
Summary
- On August 20, 9.67% of Kaito’s circulating supply is set to unlock, stirring concerns about potential sell pressure.
- Rumors suggest a second airdrop may accompany the unlock, possibly tied to Yaps or staking participation.
- Some say an airdrop is unlikely now as Kaito may want to reserve incentives for slower periods.
- Regardless of an airdrop, the unlock is likely to increase volatility, with downside risk possibly reaching the $0.80 level.
As predicted by crypto.news, Kaito (KAITO) price took a tumble following a bearish chart pattern formation in late July. From a close of $1.66 on July 20, KAITO price dropped to $1.09 by August 2 — a decline of approximately 35% in less than two weeks.
This fall pushed the RSI into oversold territory before rebounding to around 32 at press time. Correspondingly, KAITO price has also bounced back slightly and is currently trading around $1.14.
Looking ahead, Kaito is facing a potentially bearish catalyst with a major token unlock scheduled for August 20 — just under two weeks away. This event will release 9.67% of the circulating supply into the market.
Will an airdrop offset sell pressure from the unlock?
Meanwhile, rumor is circulating that the project might do an airdrop in connection with the upcoming unlock. One user @insomniac_ac highlighted the growing chatter on X, pointing out that some expect the second airdrop to be tied to Yaps (Kaito’s proprietary content engagement metric), similar to the first distribution, while others believe it could be linked to staking participation.
An airdrop — especially one with eligibility conditions like holding KAITO or staking sKaito — could encourage investors to buy or hold rather than sell. In that sense, it might serve as a hedge against expected sell pressure from the August 20 unlock.
However, some community voices on X believe the timing doesn’t make sense. One user argued that that Kaito is currently performing well — with close to 100 active boards — and doesn’t need an airdrop right now. Many others in the thread agreed with his view.
Overall, whether or not an airdrop takes place, the upcoming unlock event is expected to bring increased volatility, with downside risk potentially extending toward the $0.80 level.
Other Articles
Mantle price outlook as MNT gains momentum with 20% spike
No Comment! Be the first one.