As every crypto user knows the current state of the crypto industry, there isn’t a need for an explanation regarding the bearish run. Since the start of the new year, the market has crashed and led to a depressed state for traders and investors. As the Federal Reserve tightened the regulation for cryptocurrencies, the users are facing this state of dipping period.
Despite the crackdown, some altcoins are performing well with new implementations from their ecosystem. Similarly, Kadena (KDA) has surged up in price value within the last 24-hours to over 20%. Kadena is one of the potential crypto tokens in the market with more updates from its network.
Kadena is a proof-of-work platform that combines a Layer 1 public chain protocol with a Layer 2 network to deliver high throughput while keeping security and scalability in mind. The platform intends to apply blockchain technology to real-world scenarios, with tools and services that are ready for mass use.
Market Status And Launch Of Immunefi
Currently, Kadena (KDA) is trading at a price value of $10.43 with a total trading volume of $61,847,459 in the past 24-hours. According to Coinmarketcap, KDA has climbed up to 20% within a day and holds 69th rank. The current circulating supply of KDA is 166,890,458 coins. Moreover, KDA is available to trade on top exchanges like KuCoin, Gate.io, BKEX, Hotbit, and ZT.
The price action of KDA has soared from $8.55 to $10.44 within a day which seems a quite beneficial change. Significantly, the price changes have been witnessed following the launch of Immunefi. The network announced the entry of a leading bug bounty platform for DeFi with largest bounties.
Following this, Port Finance has also launched its Bug bounty program on Immunefi. As per the updates, this announcement became official on January 12, 2022, while Port Finance is a suite of money market products built on Solana. Since the updates, the price value of KDA has been surging while creating expectations from holders. If this trend continues then it might take a while to hit its previous all-time high.