Novastro token XNL drops 75% below public sale price, sparking community doubts about fundraising platform KaitoAI

On October 31, according to market data, the RWAfi project Novastro's token XNL fell below the public sale cost price of $0.05 after its TGE the day before, and is now trading at $0.0126, meaning public sale participants have lost about 75% at the current price. Novastro previously held a public sale on KaitoAI, raising $2 million, which was 2.3 times oversubscribed. The immediate post-sale loss for token sale participants has led the community to question Kaito AI, claiming that the fundraising platform bears partial responsibility for raising funds for "scam" projects.