X has updated its developer API policies to ban InfoFi applications, aiming to combat spam, according to Head of Product Nikita Bier. This decision has led to significant declines in the InfoFi market, impacting tokens such as KAITO, COOKIE, and LOUD. Following the announcement, KAITO, the native token of Kaito AI, plummeted by 20%, dropping from $0.70 to $0.56, as reported by CoinGecko. The Kaito Genesis NFT collection also saw its floor price crash over 50% to 0.21 ETH. As part of the crackdown, X has revoked API access for these offending apps, with Bier emphasizing that the move addresses the surge of automated spam and AI-generated content linked to InfoFi apps. Other affected tokens included COOKIE, which fell 15%, and LOUD, which declined 16%. Overall, the sector experienced an 11.5% drop in total market value. This policy shift reflects X’s commitment to enhancing user experience by tackling spam.
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