AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Kadena (KDA) is primarily a network that combines both Layer-1 public chain protocol with Layer-2 network, which allows developers to build smart contracts and other blockchain-based solutions.
- Operating on the Proof-of-Work consensus, Kadena’s unique architecture allows it to be a platform that can deliver greater transactions per second (TPS) scales.
- The KDA crypto’s is ranked 70 and was trading at US $8.77 with a volume of US$142,604,543 over a day as per CoinMarketCap.
Kadena (KDA) is primarily a network that combines both Layer-1 public chain protocol with Layer-2 network, which allows developers to build smart contracts and other blockchain-based solutions. Operating on the Proof-of-Work consensus, Kadena’s unique mechanism allows it to be a platform, which can deliver greater transactions per second (TPS) scales.
Much like Ethereum blockchain, Kadena compensates the miners for mining blocks on the network. Through its smart contract language, Pact, it can create projects that can easily be adopted by developers. It was founded by Will Martino and Stuart Popejoy in 2016. Both were responsible for JP Morgan’s first blockchain network and were also a part of the Securities and Exchange Commission’s crypto committee.
On 8 February, Kadena was rallying following an overall upward market trend. Since then, it has been seeing a rally of over 20% and a volume gain of over 175%.
Why is the KDA crypto rallying?
The KDA token was up after the blockchain network announced the Backalley token’s sale, which will be powered by the Kadena blockchain. The Kadena ecosystem aims to make use of the Backalley’s community-led token and project itself for other go-to launchpad projects.
Besides, it also roped in Justin Wu as an advisor to their launchpad, who is now primarily assisting the growth of launchpad projects. Kadena protocol has been impressive in the past two weeks after seeing significant gains of over 67%. In the last one year, Kadena has grown exponentially registering gains of well over 3,354.9%, according to CoinGecko.
Price and circulation
The KDA token is ranked 70 and was trading at US $8.77 with a volume of US$142,604,543 over a day as per CoinMarketCap. At the time of writing, KDA coin was up by 24.97% in the last 24 hours. KDA crypto has a live market cap of US$1,471,498,633 with 167,816,066 KDA coins in circulation.
With KDA’s rally coinciding with the overall mood of the crypto market indicate that the market has somewhat stabilised after a prolonged bearish spell. As cryptos are largely volatile assets, one needs to tread carefully and do their respective research before making assumptions of their own. Having said that, the Kadena investors would be quite upbeat due to the rally and would be hoping that this rally sustains for a longer run.
