Behind Kadena (KDA) Surge of 20X!
- Kadena (KDA) goes all the way from $0.23 to $25.94 in just a few months.
- Three major reasons behind such mind blowing surges for KDA.
- KDA to remain above $15 furthermore.
One of the most astonishing surges in recent times in the crypto market is that of the Kadena (KDA). With this altcoin in hand, it ought to make you a millionaire or a billionaire in such a short period totally unexpectable by anyone.
In spite of this, taking the last three months into consideration, the price of KDA rose from a rock bottom of $0.23 to it’s ATH of $25.94. Such a humongous transition with the last 30 days alone accounting to gains of more than 1200% is something completely out of the box.
Moreover, such a sudden spike up of KDA, that too in such a short span is mainly due to three major reasons. These are the entry into DeFi space, NFT enbalings and exchange listings and stakings.
Entry into the DeFi Space
The KDA makes its first entry into the Decentralized Finance (DeFi) zone by enabling it on the Kadena.io.
In spite of this, KDA has launched the wrapped version of KDA, the WKDA, which will be the utility token for all EVM based DeFi protocols. Moreover, the epic point is that the WKDA is built completely upon the Ethereum (ETH) platform.
NFT Enablings
In recent times the KDA has adapted itself to enable Non-Fungible Token (NFT) upon its network. This is rather done indirectly, by partnering with the UFO Gaming (UFO).
Accordingly, the UFO tokens will be completely programmed upon the KDA network. Furthermore, these UFO tokens are used for profuse NFT gamings.
Staking Options and Exchange Listings
Throughout time, the KDA has managed to get itself listed upon various and renowned exchanges. This has directly catapulted the value of KDA. Recent ones to enlist KDA are Crypto.com, CoinMetro and many more.
Also, all these features profuse staking and polling options along with enabling smart contracts. As the utility and importance of the platform rises so does the price too directly.
The post has appeared first on thenewscrypto.com
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
