Kadena’s Price Surges 40% After New Protocol Launch: Analysis

Kadena’s price surges 40% after the new protocol launch and listing on the Binance crypto exchange as we can see more in today’s latest altcoin news.

The listing at Binance resulted in a 40% gain in the KDA price and in the bull and bear markets, the mantra for crypto projects is focused on long-term sustainability is always being built. Kadena is one of the projects that earned plenty of rewards for its approach to development despite the weakness on the market and the layer one proof of work blockchain whcih saw its price reverse direction as of late.

#Binance will list @kadena_io $KDAhttps://t.co/b4yPmq6xu3

— Binance (@binance) March 11, 2022

The data from the trading view shows that Kadena’s price surges 40% from a low of $5.94 during the early hours on March 11 to a new high of $8.28 as its 24-hour trading volume surged to $325 million. The three reasons for the price growth of KDA include a new listing on Binance, the launch of the decentralized exchange on the Kadena network, and upcomign roadmap plans that include the launch of NFT-based native tokens. Following the announcement, the 24-hour trading volume surged from an average of $38 million to $325 million while Kucoin’s exchange also saw a high trading volume with $117.5 million worth in traders occuring before the listing on Binance.

.@KaddeXofficial and @XWalletOfficial are officially teaming up with @SimplexCC to bring Fiat on Ramp services into Kadena DeFi.

The @kadena_io Ecosystem is growing stronger than ever. Support our journey! pic.twitter.com/dj3nCDvNUw

— Daniele DV ⛓️🕸️ (@KDX_Mandrake) March 8, 2022

Another development helping boosts the price of KDA was the launch of new protocols on the Kadenanetwork like Kaddex which is the first DEX in the project’s ecosystem which offers gas-free trading. KAddex announced an integration with SImplex which will bring a fiat onramp into the growing Defi space. Some of the other protocols that launched with Kadena include Hypercent Launchpad which facilitates the launch of other verified projects on Kadena and ZoidPay.

Meet the team behind #KadenaEco and make sure to give them a follow:

Francesco Melpignano – CEO @fmelp
Paul Hsu – CIIO @paulhsu
Tyler Benster – Technology Adoption Lead @tbenst pic.twitter.com/HDTedD8TwF

— Kadena (@kadena_io) March 4, 2022

The third factor helping to attract more attention to Kadena is the project’s upcoming roadmap goals that include the launch of an NFT standard called Marmalade. Some other notable developments that are planned on the Kadena roadmap include the launch of wrapped native tokens like KUSD, KETH, and KBTC and a push for global exchange listings and development of lending platform infrastructure as well. The developers behind the project announced more plans to launch testnets for the Kadena Ethereum Virtual Machine bridge and a Kadena cosmos Bridge that will facilitate interoperability with other blockchain ecosystems.