Kite unlock in early November: 1.11 billion KITE to hit the market
- —1.11 billion KITE equals 11.1% of the 10 billion total supply and 43–46% of circulating supply
- —The tranche is worth about $131.5 million versus $11.3–17.3 million in daily turnover
- —800 million tokens belong to the team (500 million) and investors (300 million)
- —The exact date is undocumented: November 1, 3 or 17 depending on the source
Why it matters: The unlock nearly doubles tradable supply, raising the risk of selling pressure on KITE in early November.
Source: CryptoTicker