Token Debuts at $883M FDV on Significant Volume

Kite, a payments blockchain powered by artificial intelligence (AI), launched its native token on Monday, generating significant trading volume on South Korean exchanges Upbit and Bithumb.

The token debuted with strong market activity throughout, reaching a market capitalization of $159 million and a diluted valuation (FDV) of $883 million in its first hours of trading, according to data from CoinMarketCap.

The trading volume on Binance reached $85 million with a similar figure that was obtained on Upbit and Bithumb, the total volume was $263 million at the time of going to press.

The launch follows Kite $18 million increase in Serie A in September, which brought its total funding to $33 million. The move was intended to accelerate development of Kite’s foundation for AI-driven payments and autonomous agent systems.

Kite’s native token supports its “agent economy, which serves as the means for payments, staking, and governance in its blockchain network. It allows machine-to-machine and agent-to-agent transactions, which allows autonomous AI agents to execute payments, access data and purchase computing resources.

The total supply of the token is limited to 10 billion, with 48% going to the community, 12% to investors and 20% to the team and early contributors, according to. The Kite White Paper.