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The community questions whether Kaito had prior knowledge of the API ban, as the multisig distributed 24 million tokens two weeks ago, and some of the chips were sold off.
BlockBeats News, January 16. Yesterday evening, X platform revised its rules, revoked InfoFi app API access, causing a sharp drop in the Kaito platform's token. At the time of writing, KAITO has dropped by over 18% in the past 24 hours, with a market cap falling to $160 million.
It is worth noting that two weeks ago, the Kaito multi-signature contract address transferred a total of 24 million KAITO tokens (about $13.31 million) to 5 addresses. On January 9, one of these addresses received 5 million KAITO tokens and subsequently transferred all 5 million KAITO tokens (about $2.82 million) to Binance.
The community has raised questions about whether the Kaito team may have known in advance about the restriction of its API access and chose to sell part of their holdings. Additionally, 1.1 million KAITO tokens will also unlock tomorrow, and KAITO has a 7-day unstaking period.
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