KuCoin Flash reports that, as of publication, CP is trading at $0.03992, up 300.40% over the past 24 hours. The price reached a high of $0.09995—just below the $0.10 level—and a low of $0.009995, while 24-hour trading volume totaled approximately $8.36 million. CP has gained 299.40% over the past seven days.
Supply data displayed on the KuCoin market page show a maximum supply of five billion CP and a circulating supply of approximately 1.37 billion, equivalent to a circulating ratio of about 27.4%. The displayed market capitalization is approximately $56.97 million. Based on the latest price of $0.03992 and the maximum supply, the estimated fully diluted valuation is approximately $199.6 million. At the intraday high of $0.09995, the implied fully diluted valuation briefly approached $500 million.
Cluster Protocol positions itself as a private-AI infrastructure and autonomous-workflow orchestration layer deployed on Base. According to the official whitepaper, the infrastructure connects more than 500 open-source AI models through a single OpenAI-compatible interface and integrates GPU computing, a tokenized data marketplace, model fine-tuning and pay-per-request settlement through the x402 protocol. The main application, CodeXero, is a browser-native AI development environment for the EVM ecosystem that aims to convert natural-language instructions into smart contracts, DeFi logic and deployable onchain applications.
An operational review published by the project team on August 5 stated that Cluster Protocol ranked fourth globally on the Base active-user leaderboard during July. The team also reported that the AI inference service processed approximately 130,000 paid requests and settled about $79,000 during a recent 30-day measurement window. According to the same project disclosures, CodeXero has connected more than 300,000 wallets, supported the deployment of over 25,000 decentralized applications and processed more than four billion AI-model inference tokens. These figures were reported by the project team and should not be treated as independently audited statistics.
Regarding financing, an official Cluster Protocol announcement and a report from PANews state that the company completed a $5 million funding round in April 2026. The round was led by DAO5, with participation from Paper Ventures, JPEG Trading, Mapleblock Capital and other investors, bringing total funding to $7.75 million. The capital is intended to accelerate CodeXero development, expand the engineering team and strengthen AI workflows and deployment infrastructure.
From a catalyst perspective, the rally has clear event-driven support. CP entered public-market trading on September 2 alongside a one-million-CP promotional campaign, under which CP/USDT trading volume receives double weighting in the reward calculation. The concentrated trading debut, promotional incentives and initial price-discovery process increased exposure and short-term trading demand. At the same time, the financing history, private-AI infrastructure and operating figures for CodeXero strengthened the broader market narrative. However, these longer-term fundamentals were not announced on the day of the rally and cannot independently explain the entire price increase.