Kite AI’s function-focused token sparks a $263 million transformation in the agent-driven economy

Kite AI's native token, KITE, saw a flurry of trading activity upon its release, with total volume exceeding $263 million on platforms such as Binance, Upbit, and Bithumb within the initial hours, according to

. The token entered the market with a capitalization of $159 million and an $883 million fully diluted valuation (FDV). This momentum followed Kite's $18 million Series A round in September, bringing its cumulative funding to $33 million.

Kite AI operates on a proof-of-stake (PoS) Layer 1 blockchain that is EVM-compatible, built to let autonomous AI agents interact, make payments, and work together efficiently. The platform features the SPACE framework—Stablecoin-native, Programmable constraints, Agent-first authentication, Compliance-ready, and Economically viable micropayments—to foster an "agentic economy." The KITE token, capped at 10 billion units, is used for payments, staking, and governance within the network.

Listing on leading exchanges highlighted the token's increasing traction among both institutional and retail participants.

noted that HTX, a global crypto trading platform, launched KITE/USDT trading pairs on November 3, supporting spot, margin, and futures markets. Bitget also introduced KITE to its Innovation, Public Chain, and AI Zone, enabling withdrawals the next day, according to . Experts credit the token's robust market entry to its practical use cases and the growing convergence of AI and blockchain technology.

Kite's solution is designed to overcome limitations in existing AI frameworks by offering a decentralized infrastructure for autonomous agents. Its modular blockchain architecture empowers developers to create and expand AI workflows, while affordable, instant payment options streamline value exchange. The whitepaper details that 48% of tokens are allocated to the community, 12% to investors, and 20% to the team and early backers.

Elsewhere, broader trends in the crypto sector reflected institutional optimism. Coinbase, which

to advance secure digital identity solutions, after surpassing revenue expectations for the third quarter. The company attributed its positive results to $1.87 billion in revenue, fueled by transaction activity and a broader range of assets.