Kite, an artificial intelligence (AI)-powered payments 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 a fully diluted valuation (FDV) of $883 million in its first hours of trading, according to data from CoinMarketCap.
Trading volume on Binance has surpassed $85 million, with a similar figure achieved on Upbit and Bithumb, with the total volume standing at $263 million at press time.
This 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-based payments and autonomous agent systems.
Kite’s native token underpins its “agentic economy,” serving as a means of payment, 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 token supply is capped at 10 billion, with 48% allocated to the community, 12% to investors, and 20% to the team and early contributors, according to Kite’s whitepaper.
