Kadena Ceases Operations; KDA Token Drops Over 55%
The Kadena team announced it will cease business operations immediately, although the Kadena blockchain will continue under its decentralized proof-of-work structure. The announcement caused a massive sell-off, dropping KDA's value by over 55%, erasing nearly all price gains from the last five years.
- Kadena cited market conditions and operational challenges as reasons for closure.
- A small team will assist with the transition to community governance and maintenance.
- The blockchain will operate autonomously with a new binary release.
- 566 million KDA remain for mining rewards, distributed until 2139.
- 83.7 million locked tokens will be released through November 2029.
The event highlights risks for blockchain projects under prolonged market strain. The Kadena ecosystem's future relies on community efforts to sustain infrastructure and vision.
KDA Price Collapses to Multi-Year Lows
KDA's price dropped over 60% in one week, reaching around $0.08, its lowest since mid-2020. This reflects a loss of investor confidence, with trading volumes showing intense liquidation. The breakdown below $0.20 signals further potential downside unless community efforts stabilize the network.
The next support level is at $0.05. KDA's future now depends on community and miner involvement to maintain the network.