Kaito soared 42% today, with strong rallyings started by new partnerships and expanded community rewards amid growing investor interest.

Kaito hit an intraday high of $1.17 in May 7 trading before falling back to about $1.13 at press time.

Kaito’s price surged by as much as 42% on Sunday, with investor interest continuing to grow driven by new partnerships and rewards for expanding community.

Kaito reached an intraday high of $1.17 as of 8:45 a.m. Sunday, before falling back to about $1.13. That's up nearly 70% from last month's low. Its market value also surged to more than $273 million.

As of Sunday, its daily trading volume increased by 340% from the previous day to $317 million, showing a significant increase in trading activity.

The surge comes after a sharp increase in futures opening interest in recent days, which hit a two-month high of $103 million, up from about $37.7 million a month ago, according to Coinglass. Simultaneous rises in price and open interest usually indicate an increase in bullish sentiment.

Event background: Kaito Crypto's recent price surge seems to be related to Kaito's regaining attention after fusing with Huma Finance's Yapper rankings before TGE. Yappers are users who actively publish and interact with encryption-related content on X, and they receive rewards through Kaito's platform.

According to the news, eligible Yappers will receive special rewards, which may be earned in Kaito or Huma’s upcoming token or ecosystem allowances to raise awareness about Huma Finance.

In a May 5 X post, Kaito founder Yu Hu announced their first collaboration with Payfi Network Boop, which has already begun the momentum.

More importantly, the project recently added total value distributed data to its Dune Analytics dashboard, making reward flows more transparent across the ecosystem.

Dune data shows that over $71 million in rewards have been distributed across the ecosystem, excluding Kaito Airdrop. The project now also has over 200,000 monthly active Yappers, showing strong community growth.

Meanwhile, Coinglass data shows that investors have withdrawn more than 2 million Kaito tokens from exchanges over the past 30 days. This withdrawal trend indicates the accumulation of holders, which is very favorable for future price increases.

Kaito price analysis

On the 4-hour USDT chart, Kaito burst out in a downward parallel channel yesterday, a move that suggests that the downward trend may have ended with the market dominated by bulls.

This breakthrough occurred after the downtrend line broke for several weeks, increasing bullish momentum.

Buying pressure is also reflected in the indicator: chaikin currency traffic has risen to 0.21, marking strong demand, while Aroon Up has a height of 97.86%, while Aroon Down has reached 0%, indicating that buyers are clearly dominant.

With this setup, Kaito could re-hit the $1.50 psychological resistance in March, about 32% higher than the current deal.

However, market commentators remain optimistic that this is a circular bottom pattern as it shows on the 1-day chart, a significant bullish reversal sign in technical analysis, which could be further expanded to $1.75.

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