KDA cost rises by 40% after new protocol launch and exchange listing

March 12, 2022

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Kadena or KDA is one program that has received prizes from its forward-looking process to improvement instead of the shortcoming in the larger crypto market and the layer-1 proof-of-work (PoW) blockchain protocol has glimpsed its cost reverse direction lately. Information from Cointelegraph Markets Pro and TradingView indicates that the cost of KDA rose 40% from a low of $5.94 to a high of $8.28 in the 24 hours trading volume rose 784% to $325 million. Three reasons for the recent price growth for KDA include a new listing on Binance, the launch of the first decentralized exchange on the Kadena network and upcoming roadmap plans which include the launch of an NFT standard and wrapped native tokens. After the announcement, the 24-hour trading volume soared from an average of $38 million to $325 million while trading on Friday.

New projects begin on the Kadena system

The next improvement enabling to improve the cost of KDA was the launch of new protocols on the Kadena system comprising Kaddex, the 1st decentralized exchange in the program’s ecosystem which gives gas-free trading. Kardex also declared an integration with Simplex that will give rise to a fiat onramp into the growing decentralized finance or DeFi ecosystem. A third characteristic enabling to entice attention to Kadena is the program’s forthcoming roadmap objectives which comprise the launch of a native NFT standard known as Marmalade. Other significant developments that are scheduled on the Kadena roadmap include the launch of wrapped native tokens like kBTC, kETH and kUSD. Creators behind the project have also declared plans to launch testnets for a Kadena Ethereum Virtual Machine or EVM bridge and a Kadena to Cosmos bridge that will stimulate interoperability with other popular blockchain ecosystems.

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