Today, KAITO, a new cryptocurrency, sparked interest from market participants. This came after data from Onchain Lens reported that a whale withdrew massive amounts of KAITO tokens from an exchange and sent them for staking.
A newly created wallet has withdrawn 1M $KAITO worth $2.5M from #Binance and sent it for staking.
Address: 0x2ba3dd20db1fd35d648be1be582ec563895d78fa pic.twitter.com/Ieec0jJzG4
— Onchain Lens (@OnchainLens) February 27, 2025
Whale buys 1 million KAITO tokens
Today, Feb.27, data from Onchain Lens spotted a whale who created a new wallet and withdrew 1 million KAITO tokens worth $2.5 million from Binance. The whale then sent all the tokens for staking.
Such huge transactions by big investors often have a massive effect on the market. This normally suggests changes in market sentiment or repositioning assets in a portfolio as a response to market fluctuations.
In this context, the whale’s move to stake the withdrawn KAITO tokens coincides with the ongoing trend surrounding the KAITO network. Staking means locking up tokens to support a blockchain network’s operation and security and earn rewards for doing so.
The whale’s action demonstrates a long-term optimism in the token’s potential for growth. Staking continues to increasingly attract investors to let their assets work for them by earning passive income.
Staking does not just reward investors but also creates an opportunity for them to grow their holdings without active trading. This aspect makes it an attractive option for long-term investors and people looking for constant regular earnings.
The whale’s activity is important as it hints at the outlook of the future market movements. It suggests a rising interest in KAITO and its growth potential in the digital asset market.
KAITO price updates
The move by the whale came after KAITO launched its staking reward functionality on Feb.21, 2025. This whale’s action encourages investors to maximize their earnings through KAITO staking, which offers a 35.0% APY for people seeking to expand their crypto portfolio.
The KAITO token has evolved into a prominent player in the crypto world due to its AI-driven abilities. The crypto AI token was launched this month, Feb.20. By the following day, its trading volume surged to $3 billion, showing massive interest from users.
This increase in volume occurred because of the KAITO airdrop, which was almost 20% of its total supply. The token is today’s one of the best performers in the broader digital asset market. It is currently trading at $2.78, after seeing a massive 50.4% rise over the past 24 hours. Also, its trading volume surged by 283.50%, indicating increased participation from traders and investors.
