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Novastro’s XNL Token Drops 72% Post-TGE Below Public Sale Price

Novastro’s XNL token plunged to $0.0126 after its TGE, sparking criticism over Kaito AI’s role in hosting the $2 million oversubscribed sale.

KAITO

Summary

Novastro’s XNL token fell to $0.0126 after its Token Generation Event, marking a 75% drop from its $0.05 public sale price. The RWAfi project had raised $2 million via an oversubscribed sale run by Kaito AI, but the steep decline has fueled community criticism of the platform’s involvement in hosting alleged scam projects.

Terms & Concepts
  • TGE (Token Generation Event): The initial creation and distribution of a cryptocurrency token to investors or the public.
  • Public Sale Price: The price at which tokens are offered to the public during the fundraising stage before market trading begins.
  • RWAfi: A decentralized finance sector focused on tokenizing real-world assets for blockchain-based trading and investment.