KDA (Kadena) fell 60.24% in the last 24 hours.

Gate News Bot news, on October 22, according to CoinMarketCap, as of the time of writing, KDA (Kadena) is currently priced at $0.09, having fallen 60.24% in the last 24 hours, with a high of $0.26 and a low of $0.08. The current market capitalization is approximately $29.5 million.

Kadena is a blockchain platform designed specifically for enterprise applications. It uses a scalable Proof of Work consensus mechanism, combining the Pact smart contract language and the Chainweb multi-chain architecture, aiming to provide high throughput, low fees, and programmability. Kadena supports various application scenarios such as tokenization, stablecoins, and the on-chain representation of physical assets, with the goal of providing a more robust infrastructure for global finance.

Important news about KDA recently:

1️⃣ The Kadena project team announces the cessation of operations The Kadena team announced on October 22 that due to unfavorable market conditions, all business operations and active maintenance work will be immediately halted. This decision marks the complete termination of the project's development and promotional activities, which will have a significant impact on the future development of KDA.

2️⃣ KDA price falls significantly Due to the news of the project's suspension, the KDA price plummeted by more than 60% within 24 hours, dropping from a previous high of 27 dollars to about 0.11 dollars. This drastic price fluctuation reflects the market's pessimistic outlook on the future of the Kadena project.

3️⃣ Kadena Blockchain Operating Status Although the project team has ceased operations, the Kadena blockchain network will continue to run until miners and maintainers voluntarily exit. Approximately 566 million KDA in miner rewards will be distributed as originally planned until the year 2139, which may help sustain the basic operation of the network to some extent.

From a technical perspective, the KDA price has fallen below multiple important support levels and may face further downward pressure in the short term. On the fundamental side, the exit of the project team will severely impact the development of the Kadena ecosystem, potentially undermining the confidence of developers and users.

This message is not intended as investment advice; investors should be aware of market volatility risks.