KAITO has dropped about 68% over the past 15 days, falling from its July 29 high near $1.3764 to roughly $0.45 and erasing its July gains after a sharp rally from $0.40 in April. The pullback followed a post-rally correction after momentum tied to the InfoFi 2.0 theme faded, with trading volume and market capitalization also declining. The selloff also hit leveraged traders on Hyperliquid, where two addresses that opened $6.94 million of 5x long positions on August 3 were stopped out for a combined loss of $2.874 million, according to on-chain analyst Ai Yi.