As a coin that is almost 100% down from its all-time high, the recent surge of Kadena’s KDA has given some hope to investors. In 30 days, KDA witnessed a 115.64% rise, which continues with around 4% surge today. At the moment, it is trading at around $1.22 per coin.
Crypto analysts have polarising views about KDA’s next move. Will it skyrocket into its previous ATH? Or is it just a small upward movement that will fade away shortly? Let’s get into what will happen next to KDA. Also, we will check the reasons behind the ongoing surge.
What’s Causing KDA To Surge?
Kadena Ecosystem has been very active recently, organizing giveaway campaigns and AMA on X. This has created a short trend around social media, attracting investors. The next AMA, scheduled for December 4th, is between Annelise Osborne and Beatrice O’Carroll of the Kadena ecosystem. If any new updates are revealed in the talk, we can see an upward continuation from the current position.
KDA’s Price Scenario: Will It Return To ATH?
Despite the strong foundational values, the coin didn’t make much noise upon its release. Launched in late 2020, the coin fell to its lowest price of $0.1213 on January 2021. The downtrend continued until it got a break in August 2021. The coin started gaining attention, causing a huge inflow of money. Around October, the coin received millions from institutional investors. The dramatic uptrend continued till November when it achieved its all-time high of $28.25 per coin.
After the surge in November, the next months witnessed a gradual decline in the capital, from which it never recovered. Early this year, KDA surged to a yearly high of $1.87. Again it went into a downtrend, and the recent surge to $1.22 has sparked hopes and doubts among investors. The entire market scenario and the community sentiment indicate that the current uptrend will continue. However, there are strong chances for this short-term surge to fade away, like in previous years.
What KDA lacks is a strong narrative that aids its sustainability. Beyond the community engagement, giveaways, and AMAs, it should bring some groundbreaking narrative with the potential to attract institutional investors and individual whales. The coin is now 95.76% down from its all-time high, and only a viral story can revive it in a short period of time.
What Is Kadena?
As a hybrid layer-1 proof-of-work blockchain, Kadena aims to tackle scalability and security issues by building a developer-friendly public blockchain atmosphere. According to the builders, it is the only blockchain that is infinitely scalable. Despite Kadena’s achievement in reducing carbon emissions, it is still uncertain where the PoW system will lead the platform. KDA serves as the foundational token.
KDA Token Details
Similar to ETH, KDA is mainly used to compensate the miners. It is also used as the gas fee. From investors to strategic partners, to core contributors, Kadena’s token allocation is decentralized and distributed across multiple groups. Here are some more details of KDA:
| Token Ticker | $KDA |
| Total Supply | 1 Billion KDA |
| Circulating Supply | 297.52 Million KDA |
| Market Cap | $365.15 Million |
| No. of Transactions | 153.03 Million |
How To Purchase KDA Tokens?
Here is a list of prominent exchanges that facilitate KDA trading. Beyond the below centralized exchanges, it can be traded in various decentralized exchanges including its own website. Kadena’s DeFi ecosystem is so vibrant that you can have proper liquidity combined with speed, security, and privacy.
| Exchange | Pairs |
|---|---|
| Binance | KDA/USDT |
| Kraken | KDA/USD |
| KuCoin | KDA/USDT |
| Bybit | KDA/USDT |
| Gate.io | KDA/USDT |
| Bitget | KDA/USDT |
| MEXC | KDA/USDT |
| Phemex | KDA/USDT |
| XT.COM | KDA/USDT |