Kava (KAVA) Price Rallies 10% In 7 Days – Here’s Why

KAVA, the native token associated with the Kava platform, has experienced a whirlwind week regarding its price swing. The token, which began the week trading around $1.03, surged to $1.23 on May 23, driven by positive news within its ecosystem.  However, the bull momentum was short-lived, with the token recently experiencing a significant price correction. [...]

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KAVA Price Triumph: A Promising Uptrend?

During the market consolidation, KAVA price experienced a solid accumulation of buying power at its support prices.

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Kava Price Prediction As KAVA Bulls Look To Recover From The FTX-Provoked Dip

KAVA token started the year with a bullish streak, rising 114% from the $0.5 support floor on January 2 to a high of $1.11 on [...]

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Kava Price Skyrockets To $1.1 After Coinbase Listing – Time To Buy This Crypto?

Kava price blasted through several stubborn resistance zones following exposure to a wider audience. Coinbase exchange listed KAVA as a tradable instrument on Wednesday, giving [...]

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Kava (KAVA): Price Updates, Recent Developments, Future Events, Community

Kava is a small but fast-growing blockchain network that has become popular for its unique “one network, two chains” approach to decentralized finance

Continue reading Kava (KAVA): Price Updates, Recent Developments, Future Events, Community at DailyCoin.com.

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KAVA Soars 31% This Week With Anticipation Of Mainnet Upgrade

KAVA, the utility token of decentralized blockchain Kava, has been on a strong bullish trend in the last few days. The cryptocurrency maintained this momentum despite the bearish market sentiment in the past week, garnering an impressive 31% price gain. To end what was a largely positive week, a proposal to initiate the first phase of Kava Horizon was submitted by the Layer-1 ecosystem. Related Reading: BRISE Gains 21% In 24 Hours – Could This Be A Market Recovery? KAVA Price Overview Recently, the KAVA token has been on a positive price rally, gaining more than 30% of its value in the last seven days. For long-term investors, this may be seen as some form of recovery, as the coin had not been performing well until a week ago. To put this into perspective, the token has only increased by 1.6% in the past month. In fact, up until the 8th of May, the price of KAVA was on a steady decline, losing nearly 29% of its value in three weeks. That said, an upward price movement that started a week ago has seen the token climb up to its previous high of $0.96. As of this writing, KAVA is valued at $0.969, tallying a 4.7% increase in 24 hours.  KAVAUSD trading at $0.9754 | Source: KAVAUSD chart from TradingView This latest price increase has been linked to the upcoming upgrade on the mainnet. Scheduled for 17th May, 2023 (15:00 UTC), the “Kava 13” upgrade aims to bring architectural enhancements to the security, scalability, and functionality of the network. Consequently, this will help developers to scale and accelerate their protocols and improve user experience across the ecosystem. According to CoinGecko data, KAVA has a market capitalization of $495.5 million, which places it as the 90th largest cryptocurrency in the market. It is, however, worth noting that the token’s daily trading volume has dipped by 51.7% to $21.9 million in the last 24 hours. Kava Submits Proposal To Initiate ‘Horizon’ On May 13, 2023, Kava advanced its plans to implement the first phase of the Kava Horizon. Codenamed “Proposal 141”, the proposal to initiate this change is now live for community voting. This proposal, if approved, will permanently end all emissions (including POS rewards, Rise rewards, grants, and other reward emissions) by December 31, 2023.  However, before this is implemented, two independent foundations will be created to oversee the steady development and maintenance of the permissionless and decentralized blockchain. These two foundations will receive the bulk of emissions till they eventually cease at the end of the year.  A future software upgrade – launched subsequent to proposal 141 – will control the flow of all accumulated rewards from the aforementioned foundations.  Related Reading: Tether Holds $3.4 Billion In Gold Reserves, Nears ATH Market Cap 1 Year Post Terra Collapse Featured image from Securities.io, chart from TradingView

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Kava Brushes Off Market Downtrend, Gains 11% On Weekly Chart

KAVA is one of the Layer-1 blockchains in the crypto industry with links to two top blockchains, Ethereum and Cosmos. The network combines the Cosmos blockchain, and the EVM technology boosting its speed, security, and maximum scalability. It also utilizes the developer support of the Ethereum network.  As such, Kava supports cross-chain interoperability, allowing users to transfer assets between Cosmos and Ethereum ecosystems. Kava’s native token, KAVA, which powers all the transactions on the blockchain, currently sits at the 62nd position on Coinmarketcap rankings.  Related Reading: Coinbase Stock Surges Nearly 10% Despite Cathie Wood’s Ark Invest $12 Million Sale At the time of writing today, July 12, KAVA’s market cap stands at $661,668,155, showing an increase of 5.95%. Also, the coin has recorded more gains in 7 days than other top coins like Bitcoin and Ethereum, showing losses in their weekly gains.  KAVA Posts Positive Price Moves Amid Plummeting Trading Volume KAVA’s price stands at $1.06, depicting a gain of 5.51% in 24 hours, while the weekly price shows an 11.31% increase. But KAVA’s trading volume currently stands at $59,625,037, a decline of 22.88%. This is unexpected, given the increasing price gains.  Looking at the declining volume, trading activities with KAVA show low participation. Also, the global market Fear & Greed Index is currently at 57, depicting Neutral. As such, the current gains on KAVA may not be sustainable.   Also, KAVA’s daily chart on TradingView, shows that the RSI is at 62 moving towards the overbought region of 70. Such a movement suggests a trend reversal to the downside once the asset reaches the overbought region.  So while traders might be encouraged by the greenish moves today, represented by KAVA’s trend above the 50-day moving average, they should be careful, given the possibility of a downtrend soon.  Network Upgrade And USDT Launch Might Be Pushing KAVA Many factors affect the prices of crypto assets. Some of these factors include market-wide sentiment, network developments, news, regulations, etc. Regarding KAVA’s price gains today, network developments and events are seemingly responsible for it.  The much anticipated Kava 14 blockchain upgrade is slated for today, July 12, at the block height of 5,597,000 at 3:00 p.m. UTC. GitHub reveals that the release will facilitate the seamless unlocking of Cosmos native assets on Kava EVM. Not only that, it will support the conversion of assets between Ethereum and Cosmos through a safer new internal bridge feature. Six days ago, USDT launched on Cosmos through Kava. Even though the launch expanded the Cosmos DeFi Ecosystem, it also brought Kava to the limelight. Related Reading: Bitcoin Market Braces For CPI Figures: Will BTC Rally Or Retreat Today? Kava Co-founder Paolo Ardoino, talking about the integration, said, “Our support for Tether’s USDt integration unlocks much-needed stablecoin liquidity across the Cosmos and EVM ecosystems. Tether’s choice makes Kava a key support and a strong ally for Cosmos ecosystem projects building out the Internet of Blockchains.” Featured image from Pixabay and chart from TradingView.com

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