Kite AI to Unlock 670M Tokens, 27.9% of Circulating Supply

Kite AI's unlock stands out less for its dollar value than for its scale relative to float — releasing more than a quarter of circulating supply in a single week is a structural test of how thin the market for an early-stage AI-agent infrastructure token really is. The comparison with Ethena and Bitway matters: those are larger or better-established names releasing smaller proportional tranches, so Kite's supply shock is idiosyncratic rather than a broad market signal. The open question is whether demand deepens enough to absorb the new float, or whether the token's liquidity simply reprices to a new equilibrium.