Kadena (KDA) Prices Striving Hard to Reverse Bearish Momentum!

Kadena (KDA) Prices Striving Hard to Reverse Bearish Momentum!
  • The network can process up to 480,000 transactions per second.
  • On November 3, 730,000 KDA tokens were deposited in 20 minutes.

Everything in the crypto market is either consolidating or falling. Some crypto analysts believe the market is a bull trap, while others disagree.

KDA/USDT: Source: TradingView

Many experts predict that Kadena’s price will soar to new heights in the long term. On November 8, 2021, the price of the $KDA rose to a new all-time high of approximately $25, well exceeding previous expectations. The short-term value of $KDA is projected to decline, making it an unsuitable investment for anyone looking for short-term profits. But it is projected to be a success in the long run.

Still Uses Proof-of-Work Blockchain Networks

An increase of 500 percent last November in $KDA may be attributed to the addition of DeFi and centralized exchange staking, as well as a move to Ethereum. Back when proof-of-work (PoW) blockchain networks were all the rage with Bitcoin, several projects aimed to establish a strong, robust, scalable network that could either facilitate payments or successfully carry data, proof-of-stake.

A scalable layer-one blockchain platform, Kadena still relies on Proof of Work (PoW). The network can process up to 480,000 transactions per second using “braided chains.”

New exchange listings, wrapped KDA (wKDA) on the Ethereum network, and support for KDA staking are all factors that have contributed to the recent price surge and overall optimistic momentum.

When KDA staking was restarted on November 3, 730,000 KDA tokens were deposited in 20 minutes, using up the entire capacity of the staking pool. DeFi’s merger with KDA might benefit because KDA shareholders are enthused about yield potential. Wrapped KDA can lower the circulating supply of KDA, increasing the token’s price. According to CoinMarketCap, the Kadena price today is $7.36 USD with a 24-hour trading volume of $46,270,214 USD.

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