Kaito (KAITO) token jumps 227% as ecosystem growth accelerates ahead of NVIDIA earnings

The Kaito (KAITO) token jumped to $2.2367 on Tuesday, May 27, up 227% from its April low. It is now trading at its highest level since March 3

Kaito’s price has rallied strongly this year and could be set for further upside as ecosystem growth accelerates ahead of Nvidia earnings.

Kaito surges 227% from April lows

The Kaito (KAITO) token jumped to $2.2367 early on Tuesday, marking a 227% increase from its April lows of $0.6703. It is now trading at its highest level since March 3, giving the project a market capitalization of $531 million.

According to Dune Analytics, Kaito’s platform metrics continue to strengthen. The number of ‘yappers’ has now increased to 200,000, while annualized revenue has surged to over $32 million.

Additional data shows that the total value distributed has soared to $72.3 million, a sharp rise from just $12 million in January. TVD represents the total value of rewards distributed to participants within the Kaito ecosystem—a key metric of engagement and utility.

Kaito has also continued reducing its circulating supply. The network has conducted token buybacks to the tune of $4.02 million. Such buybacks help decrease token supply, which can support price appreciation.

Staking activity has also increased sharply. The number of Kaito stakers now stands at 15,573, up from 4,000 in February. Meanwhile, the total number of staked KAITO tokens has jumped to 23.17 million, compared to 3 million earlier this year.

Kaito’s recent rally is also tied to the upcoming Nvidia earnings report, as KAITO is categorized as an artificial intelligence token. Strong earnings would signal continued momentum in the AI sector, potentially boosting sentiment for related crypto assets.

Kaito technical analysis: Strong rebound, but key level to clear for further gains

The eight-hour chart shows a strong rebound in Kaito’s price in recent weeks, with the token bouncing from lows of $0.6703 to highs of $2.2323.

Kaito has moved above the 25-period Exponential Moving Average and the 61.80% Fibonacci retracement level. It has also formed a bullish flag pattern, characterized by a vertical rally followed by a consolidating rectangle.

A breakout above the upper side of the flag channel would signal further gains, potentially targeting the all-time high of $2.9157, roughly 35% above current levels. Conversely, a move below support at $1.90 would invalidate the bullish setup.

Overall, the technical indicators suggest that the bullish trend in Kaito is likely to continue in the coming days, especially if Nvidia’s earnings report on Thursday impresses. However, a move below $1.90 could signal a reversal of the trend.