Kadena (KDA) is a blockchain infrastructure founded in 2016 by tech moguls Stuart Popejoy and Will Martino. It aims to optimize the user experience through its underlying technology, by improving scalability and maintaining the integrity of the blockchain. Many promising cryptocurrencies, like Kadena, suffered immensely in the May crypto crash. That being said, this article will focus on the Kadena coin price prediction for 2022.
What Is Kadena?
Kadena combines a Layer-1 public blockchain with a Layer-2 network. Thus, eliminating the need for second-layer networks to improve scalability and functionality. Its network consists of two main components; Chainweb and Pact.
Chainweb is a Proof-of-Work protocol designed specifically for Kadena. It combines individually mined PoW chains into a single network. Each PoW chain works simultaneously to complete and verify transactions within the blockchain. Like Bitcoin, Chainweb ensures effective reliability and security due to its PoW protocol. However, its multichain architecture allows for higher scalability.
On the other hand, Pact is a Turing-complete smart contract language designed explicitly for the use cases of blockchain technology. It is easily read and understood by non-developers. As such, it enables both tech-savvy and non-tech-savvy individuals to effortlessly create smart contracts within the network. It reimburses users with a trusted system for quick and safe transactions with robust and high-performance logic. Additionally, it automatically fixes bugs within the network, assists in troubleshooting, and performs atomic executions.
What differentiates Kadena Coin from others?
Kadena has the only scalable PoW platform capable of reaching over 9 million transactions each day on the NYSE. It’s allegedly able to process up to 480K transactions per second. Moreover, Kadena created its first-ever crypto gas station on its blockchain. The concept’s implementation removed the restriction that blockchain would only be used by tech-savvy individuals. It also ensures investors get high returns on low investments.
Kadena Coin Live Price Analysis
According to CoinMarketCap, KDA’s live price today is $1.62USD with a 24hr trading volume of $42,860,494.88(+25.9%). It currently ranks at #94 with a live market capitalization of $300,737,033.59. In the last 24 hrs, Kadena’s price is up by 7.1%.
Kadena has a max supply of 1B tokens with a circulating supply of 184,802,447.92 KDA. It recorded its all-time high at $28.25 on the 11th of November, 2021. Meanwhile, its all-time low was recorded at $0.1213 on January 11th, 2021.
Kadena Coin Price Movements 2020-2022
At the beginning of the year 2020, Kadena’s estimated value was $0.19. On Aug 8th, it recorded its all-time high for 2020 at $0.7947. Towards the end of the year, its price decreased to $0.15, a change of -81% since its all-time high.
In 2021, Kadena gradually began to increase in value. It surpassed the USD 1 mark on April 8th with a value of $1.08. On November 1st, Kadena had a price of $7.04. It recorded its all-time high at $28.25 on November 11th, an increase of 243% in only 10 days. Nevertheless, on December 1st, Kadena’s price decreased to $17.12.
On January 1st, 2022, Kadena had a price of $12.81. In one month, it decreased to half its price at $6. In May 2022, a dark month for crypto investors, Kadena opened at $3.8 and closed the month at $2. At the time of writing, Kadena has a price of $1.66.
What Is Kadena Coin’s Price Prediction For 2022?
Kadena, like many others, endured one of the worst bearish crypto markets this year. As such, it’s unclear whether it will ever regain its value to what it once was. At this point, we can only assume the Kadena coin price prediction for the rest of 2022.
Kadena’s average estimated price might reach $1.79 with a maximum of $1.85 by the end of June. As for July, its average price is assumed to reach $1.82 with a maximum of $1.94. In September, the altcoin might have an average price of $1.93 and a maximum price of $2.11. As for December, it may have an average price of $2.11 and a maximum of $2.39.
The crypto market is still bearish at the moment. Therefore, the Kadena coin price prediction is susceptible to change. Given this circumstance, always be on the lookout for the trends of different altcoins going on in the marketplace. Moreover, always do your own research before investing in any cryptocurrencies, using trusted data forecasting forums.
Sally is a student of International Business Management and is interested in topics related to blockchain technology. She is an author for gBlogo’s “Crypto World” column and provides insight on topics related to cryptocurrencies and NFTs.