KAITO token dropped 11% in a single day, bringing its weekly decline to approximately 57%, driven by massive whale selling. A token unlock of 32.6 million KAITO tokens, representing 3.26% of the total supply, is scheduled for August 20 and could increase selling pressure amid broadly bearish crypto market sentiment. Perpetual market data shows a significant gap between long and short liquidations, with long position losses 21 times higher than short position losses, at roughly $767,190 compared to $35,340. This imbalance suggests bullish traders should exercise caution before taking long positions on the asset.
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