Kadena Price Drops Sharply Amid Company Shutdown
Kadena (KDA) price fell below $0.065 on Thursday. It has dropped more than 70% this week. The fall follows the company’s announcement that it is closing due to market conditions. Several crypto exchanges are also removing KDA trading.
Company Ends Operations, Exchanges Delist KDA
On Tuesday, Kadena announced on its official X account that it will stop all business activities immediately. The company will no longer maintain the Kadena blockchain. This news caused the KDA token price to fall sharply.
On Wednesday, major exchanges like Bybit and OKX said they will remove KDA trading. This reduces liquidity and makes it harder for investors to buy or sell KDA. The delisting adds more pressure on the token’s price.
Kadena Blockchain to Continue Running
The Kadena team said the blockchain will keep running independently. It uses decentralized proof-of-work mining and smart contracts managed by individual maintainers. The company’s shutdown will not stop the network.
Developers plan to release an updated version of the software. This update will keep the network running without the company’s involvement.
