After a brief interruption due to China’s cryptocurrency crackdown, the bull run for cryptos appears to have resumed. Aside from Bitcoin and Ethereum reaching new highs, many altcoins are also seeing significant gains. Some of the “Ethereum killers,” such as Solana and Cardano, are performing particularly well.
These networks are attempting to address some of the Ethereum network’s flaws, such as high gas fees and high congestion. Kadena is another network that seeks to address some of the challenges that Ethereum users face. In the previous month alone, the value of Kadena coin has increased by 1,000 percent. It had a YTD gain of over 13,000 percent. Many investors are curious about Kadena’s (KDA) crypto price projection, given the recent sharp climb.
What exactly is Kadena and how does it function?
Kadena bills itself as the world’s fastest and most scalable Proof-of-Work (PoW) blockchain. Stuart Popejoy and Will Martino, cryptocurrency aficionados who constructed JP Morgan’s first blockchain, created the platform. The network is designed to address the security and scalability challenges that plague the blockchain industry. Its multi-layer structure allows it to securely connect public applications, private blockchains, and other networks. The Kadena network’s main utility token is KDA.
Kadena recently partnered with Coinmetro to gain access to the Ethereum network. The CoinMetro exchange allows users to stake KDA and earn passive benefits. You must, however, stake at least 1,000 KDA to be eligible for this service.
Kadena’s price forecast
Kadena’s price could drop by 43 percent in a year, according to Wallet Investor. KDA is viewed as a poor long-term investment by the firm.
Kadena’s price is expected to rise 44 percent from current levels by the end of 2021, and more than 200 percent by 2025, according to Digital Coin Price.
Price Prediction.net predicts a flat growth rate for Kadena until the end of 2021, which is in the middle of the range. By 2025, it anticipates a 400 percent increase in the token’s value.
It’s difficult to make price predictions for any coin. As a result, investors should treat these forecasts with caution.
Is it wise to invest in Kadena?
Kadena is on a mission to fix multiple problems at once. It’s attempting to resolve the scalability trilemma, as Vitalik Buterin coined the word. He argues that maximizing decentralization, scalability, and security is difficult. While Bitcoin and Ethereum excel at the latter two characteristics, they fall short when it comes to scalability. Kadena’s goal is to find a solution to this trilemma.
The fees at Kadena are low, and it is energy-efficient. It’s also the first scalable layer 1 PoW blockchain that supports Pact, the most secure smart contract language. While Bitcoin miners consume 172.28 TWh per year, Kadena miners consume only 0.028 TWh or 0.016 percent of BTC. It’s similar to Bitcoin, but with smart contracts and scalability. As a result, the network’s potential might be enormous. The token’s price should rise in tandem with its growing popularity.
Where can I get Kadena?
If Kadena’s credentials and outlook impress you, you may purchase it on a variety of exchanges. KuCoin, Hoo, Hotbit, Bittrex, and CoinEx are the top exchanges for trading Kadena. For residents of the United States, KuCoin is one of the best exchanges to use to purchase Kadena.
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