Whether you like it or not, Kaito has become a must-have choice for Pre-TGE projects. And as its scale expands, Kaito's bargaining power is also growing. Assuming we're currently in an altcoin uptrend cycle + a regulatory easing cycle, Kaito's flywheel is spinning—more airdrop farming + Capital launchpad → stronger bargaining power for project teams → higher implied token value. Also, it's still 5 months until the next institutional unlock~