According to the cryptocurrency’s website, Stuart Popejoy and Will Martino established Kadena in New York in 2016 with the idea that “blockchain might transform how the world communicates and transacts.”
While the cryptocurrency industry has fared very well in the 4th quarter of 2021, it has grown more crowded with start-ups aiming to hasten the adoption of blockchain by the general public by creating technologies to make it more scalable.
Can Kadena defeat its opponents and provide the golden chalice in the context of the present bear market? Do the KDA coin’s prospects seem promising? Let’s quickly overview the coin before looking at a price estimate for Kadena.
Understanding Kadena (KDA)
The website for Kadena’s blockchain platform, Chainweb, claims that its allegedly one-of-a-kind sharding technique makes it the only layer-1 Proof-of-Work (PoW) platform that can promise scalability.
The PoW approach still stands as the most secure, according to the business. Sadly, as stated in the scalability paradox, traditionally, scalability has been sacrificed for this high level of safety and vice versa.
Kadena claims to address these problems by using a “revolutionary braided multi-chain design,” making the blockchain competent in satisfying the requirements necessary for it to be useful in processing commonplace transactions.
Actually, the website claims that its technology is capable of settling the daily over nine million deals made on the New York Stock Exchange.
Kadena’s performance to date
Following its introduction, the currency increased marginally, going from around $0.3933 on June 4, 2020, to $0.6925 by August 12, 2020. After that, the coin decreased to $0.1423 on January 23, 2021, until rising to $1.7631 on April 9.
Immediately afterward, on July 24, 2021, the currency fell to $0.3442 before rebounding to $2.1707 on September 19. After that, the coin fell to $1.4568 on September 28, 2021, while surging to a record peak of $24.16 on November 11. On December 13, 2021, the KDA price adjusted to $9.6413 before increasing to $15.36 on December 26, 2021. By January 22, 2022, the KDA had lowered to $5.0222.
When it was revealed that the Kadena blockchain would power the Back Alley token sale, the value of the KDA coin skyrocketed and reached $9.853 on February 9, 2022. But when the month came to a close, the cost continued to decline, and on February 28, the coin was only worth $5.89. Beginning on March 7, the currency began trading in a sideways fashion around the $6.30 level, with neither bulls nor the bears dominating.
There was a considerable increase at the conclusion of the month, and KDA opened on April 1, 2022, at $7.01. Nevertheless, the market had a sharp decline, and it ultimately ended April at $4.08.
Even if a fresh grant was announced on Twitter, worse news was to follow in May. The token crashed the whole market, dropping to $1.38. The token made some strides in the next weeks, but a second flash collapse in early June caused the cryptocurrency market’s value to fall below $1 trillion, and Kadena really wasn’t exempt from the macro pressures. The token’s price reached a low of $1.36 on June 13. The coin has, however, achieved some respectable gains since that price point.
Kadena price prediction: Expert opinion
Remember that algorithms are used by digital forecasters to produce their forecasts. While they are helpful as a benchmark, they cannot reflect all market situations; therefore, verifying forecasters’ estimates of the Kadena price should simply be one part of your investment due diligence.
In light of the above, let’s examine some price forecasts for Kadena coins:
- According to WalletInvestor’s negative KDA coin price prediction, KDA can sink below $0.10 in a year, earning it a “bad long-term (one-year) investment.”
- Gov Capital predicts that the KDA price for 2022 will surpass $10 as early as November. The website also offers a highly bullish price forecast, predicting that the currency would cost $12.15 in a year and $95.57 in five.
- KDA’s value may be at $2.39 in September 2022 before dipping to $2.28 in the last months of the year, according to DigitalCoinPrice. Following a general upward trend year over year, the coin must be around an average of $2.42 in 2023, according to the website’s prediction. The website projects that the price of Kadena will be $3.23 in 2025 as well as $7.80 in 2030.
- PricePrediction.net projects larger long-term gains for Kadena, launching at a price of $45.30 in 2030.
Conclusion
Potentially. Over the last year, the coin has done quite well. The initiative is supported by a strong staff and has formed a number of noteworthy alliances. However, remember that the cryptocurrency market is very volatile, and the value of all tokens and coins might go both up and down. Keep in mind that previous performance does not guarantee future results, and never invest more money than you can risk losing.
