Kite, an artificial intelligence (AI)-powered payments blockchain, launched its native token on Monday, generating significant trading volume on South Korean exchanges Upbit and Bithumb.
The token debuted with strong overall market activity, reaching a market capitalization of $159 million and a fully diluted valuation (FDV) of $883 million in its first hours of trading, according to data from CoinMarketCap.
Trading volume on Binance exceeded $85 million and a similar figure was achieved on Upbit and Bithumb; the total volume amounted to $263 million at the time of this publication.
The launch follows Kite’s $18 million Series A raising 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 “agency economy,” serving as a medium for payments, staking, and governance across its blockchain network. It enables machine-to-machine and agent-to-agent transactions, allowing autonomous AI agents to execute payments, access data, and purchase computing resources.
The total supply of the token is capped at 10 billion, of which 48% is allocated to the community, 12% to investors, and 20% to the team and early contributors, according to Kite’s whitepaper.
