Kaito drops 11% amid whale selling and looming token unlock pressure

Kaito's price has fallen about 11% in the past day, continuing a week-long decline driven by whale selling. This trend is linked to an upcoming token unlock on August 20, releasing 32.6 million KAITO tokens, which may increase selling pressure amid bearish market sentiment. Whale holders are partially selling to maintain exposure, while new buyers remain scarce. Traders are cautioned as liquidation data shows a large imbalance favoring short positions, signaling risk for bullish bets.