Kadena (KDA) is a project aiming to be the future of blockchain gaming. The price skyrocketed by 15% in 24 hours, with many speculating that it’s headed for another ATH over $30 USD. Stay tuned as we analyze this market movement and what it means for traders moving forward.
The “crypto.com coin news” is a cryptocurrency that has seen its price skyrocket by 15% in the past few weeks. The crypto’s price was at $0.24 per token on November 1st and it is currently trading for $0.30 per token.
The cryptocurrency market is turbulent and beyond of anyone’s control, operating as if it had its own mind. Since a result, traders must always be on the lookout for fresh chances, as specific currencies have a tendency to rise even outside of market-wide rallies.
This is exactly what is occurring right now with Kadena (KDA), the only cryptocurrency with a properly scalable layer-1 PoW blockchain in the industry.
The historical performance of Kadena
Unfortunately, Kadena was never one of those currencies that went online and immediately skyrocketed. The coin was launched in June 2020, at a price of $0.32. Despite the fact that the crypto sector was prepared for its largest rally in history, its price continued to fall over the summer after its introduction.
In August 2020, the coin had a little boost, rising from $0.25 to $0.78. However, although Bitcoin continued to rise at this moment, approaching its former ATH of $20,000 and beyond, the KDA price continued to fall.
The crypto sector eventually began a full-fledged surge in January 2021, but Kadena was entirely unconcerned about it. It did see a brief price increase in mid-April, when it hit $1.66, but it then had yet another round of price corrections, bringing it down to $0.34.
In September 2021, things finally began to shift in favor of the currency, resulting in a huge rise unlike anything Kadena had ever seen before.
In late 2021, KDA makes a comeback.
After hitting rock bottom in late July 2021, the price of Kadena began to rise again, although slowly. It had achieved its previous resistance level of $0.80 and had been halted from moving higher for about a month. In September 2021, however, something happened, and the currency began to rise, breaking all previous records and hitting $2.32 for the first time in its existence.
While its price fell significantly following this milestone, and many expecting it to fall to $0.3, KDA astonished its community by immediately rising again.
Between September and mid-November, the coin’s price skyrocketed, breaking over one resistance level after another until it ultimately topped out at $27.25 on November 11th, a new all-time high.
Unfortunately, this level proved to be too great of a barrier, and the coin was unable to continue with the rally. Instead, it was rejected, and it began a period of recovery that was only interrupted by a support level of $18. The currency then tried another spike, stalling at roughly $23 this time. The price was then rejected once again, this time to a support level of $16. Between November 21st and December 4th, this support managed to hold it for nearly two weeks until ultimately breaking.
The KDA price fell to its new support level of $10, where it remained for the following ten days, until December 14th. Another recovery began on this day, and KDA was able to rise to $12.08, which is where it stands at the time of writing.
KDA pricing has shown that it is capable of rapid growth, with a 15 percent increase in the previous 24 hours at a time when most other cryptos, including Bitcoin, are trading in the red or only beginning to recover. While Kadena has seen some significant price declines, it is worth noting that it seems to have reached its bottom at a price that is 10 times greater than the coin’s previous peak only a few months ago. And, based on the signals the currency is sending right now, another major increase is very certain to occur in the coming days.
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Frequently Asked Questions
How do I exchange KDA?
A: This can be done through the Tournament Center.
What is KDA coin used for?
A: KDA coins are used for various things such as unlocking special skins and in-game items, unlock new songs and discounts.
Where can I trade in KDA?
A: Currently there is no central location for trading KDA.