TLDR The Kadena organization announced it is winding down all business operations immediately due to unfavorable market conditions KDA token plunged over 60% following the announcement, dropping from $0.207 to around $0.087 The blockchain will continue operating through independent miners, with about 566 million KDA remaining for mining rewards until 2139 Kadena was launched in [...] The post KDA Token Crashes 60% as Kadena Team Walks Away From Project appeared first on CoinCentral.TLDR The Kadena organization announced it is winding down all business operations immediately due to unfavorable market conditions KDA token plunged over 60% following the announcement, dropping from $0.207 to around $0.087 The blockchain will continue operating through independent miners, with about 566 million KDA remaining for mining rewards until 2139 Kadena was launched in [...] The post KDA Token Crashes 60% as Kadena Team Walks Away From Project appeared first on CoinCentral.

KDA Token Crashes 60% as Kadena Team Walks Away From Project

TLDR

  • The Kadena organization announced it is winding down all business operations immediately due to unfavorable market conditions
  • KDA token plunged over 60% following the announcement, dropping from $0.207 to around $0.087
  • The blockchain will continue operating through independent miners, with about 566 million KDA remaining for mining rewards until 2139
  • Kadena was launched in 2019 by former JPMorgan and SEC employees and raised approximately $15 million in funding
  • Trading volume surged 1,277% to $105.3 million as investors rushed to sell their holdings

The Kadena organization announced on Tuesday it will cease all business operations and stop maintaining its blockchain. The team cited unfavorable market conditions as the reason for the shutdown.

The announcement sent the KDA token into a sharp decline. The token dropped from $0.207 to $0.078 within hours of the news.

Kadena (KDA) PriceKadena (KDA) Price

At press time, KDA was trading at approximately $0.087. This represents a 58% decline in 24 hours. The token now sits just 25% above its all-time low.

KDA had reached an all-time high above $27 in late 2021. The current price marks a steep fall from those levels.

The organization confirmed all employees have been notified. A small internal team will manage the transition period.

Stuart Popejoy and William Martino founded Kadena in 2019. Both previously worked at JPMorgan and the U.S. Securities and Exchange Commission. They helped launch the predecessor to JPMorgan Chase’s Kinexys blockchain.

Kadena positioned itself as a proof-of-work blockchain designed to attract institutional investors. The project raised about $15 million across three funding rounds.

Last year, Kadena announced plans for a hiring spree. Annelise Osborne told The Block the company aimed to regain market position and mindshare.

Blockchain Continues Without Corporate Support

The Kadena blockchain will remain operational through its decentralized network. Independent miners will continue to maintain the system.

The organization stated it will release a new binary to ensure smooth operation. Node operators must upgrade to maintain network continuity.

Over 566 million KDA tokens remain available as mining rewards. These rewards will continue distribution until 2139 according to the protocol’s emissions schedule.

More than 83 million KDA will unlock by November 2029. The reward structure follows the original protocol design.

The team said it would engage with the community regarding transition to community governance. Updates will be posted as they become available.

Market Response and Community Reaction

Trading volume jumped 1,277% to $105.3 million in 24 hours. The surge reflects investors repositioning their holdings rapidly.

Community members expressed frustration with the announcement. Analyst Huang described the situation as resembling an exit scam.

Ahmed Raza criticized the shutdown as poorly handled. He called it a betrayal of investors and builders who supported the project.

The sudden nature of the announcement drew particular criticism. Many felt the team lacked transparency about the decision.

The organization’s statement referenced only “market conditions” without detailed explanation. This vague reasoning fueled community concerns about the shutdown’s true causes.

The post KDA Token Crashes 60% as Kadena Team Walks Away From Project appeared first on CoinCentral.

Market Opportunity
TokenFi Logo
TokenFi Price(TOKEN)
$0.005321
$0.005321$0.005321
+5.59%
USD
TokenFi (TOKEN) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Husky Inu (HINU) Completes Move To $0.00020688

Husky Inu (HINU) Completes Move To $0.00020688

Husky Inu (HINU) has completed its latest price jump, rising from $0.00020628 to $0.00020688. The price jump is part of the project’s pre-launch phase, which began on April 1, 2025.
Share
Cryptodaily2025/09/18 01:10
US Senate Releases Draft Crypto Bill Establishing Clear Regulatory Framework for Digital Assets

US Senate Releases Draft Crypto Bill Establishing Clear Regulatory Framework for Digital Assets

TLDR: Bill resolves SEC-CFTC conflict by assigning clear regulatory authority over securities and commodities respectively. Ancillary assets category exempts network
Share
Blockonomi2026/01/14 04:57
Unprecedented Surge: Gold Price Hits Astounding New Record High

Unprecedented Surge: Gold Price Hits Astounding New Record High

BitcoinWorld Unprecedented Surge: Gold Price Hits Astounding New Record High While the world often buzzes with the latest movements in Bitcoin and altcoins, a traditional asset has quietly but powerfully commanded attention: gold. This week, the gold price has once again made headlines, touching an astounding new record high of $3,704 per ounce. This significant milestone reminds investors, both traditional and those deep in the crypto space, of gold’s enduring appeal as a store of value and a hedge against uncertainty. What’s Driving the Record Gold Price Surge? The recent ascent of the gold price to unprecedented levels is not a random event. Several powerful macroeconomic forces are converging, creating a perfect storm for the precious metal. Geopolitical Tensions: Escalating conflicts and global instability often drive investors towards safe-haven assets. Gold, with its long history of retaining value during crises, becomes a preferred choice. Inflation Concerns: Persistent inflation in major economies erodes the purchasing power of fiat currencies. Consequently, investors seek assets like gold that historically maintain their value against rising prices. Central Bank Policies: Many central banks globally are accumulating gold at a significant pace. This institutional demand provides a strong underlying support for the gold price. Furthermore, expectations around interest rate cuts in the future also make non-yielding assets like gold more attractive. These factors collectively paint a picture of a cautious market, where investors are looking for stability amidst a turbulent economic landscape. Understanding Gold’s Appeal in Today’s Market For centuries, gold has held a unique position in the financial world. Its latest record-breaking performance reinforces its status as a critical component of a diversified portfolio. Gold offers a tangible asset that is not subject to the same digital vulnerabilities or regulatory shifts that can impact cryptocurrencies. While digital assets offer exciting growth potential, gold provides a foundational stability that appeals to a broad spectrum of investors. Moreover, the finite supply of gold, much like Bitcoin’s capped supply, contributes to its perceived value. The current market environment, characterized by economic uncertainty and fluctuating currency values, only amplifies gold’s intrinsic benefits. It serves as a reliable hedge when other asset classes, including stocks and sometimes even crypto, face downward pressure. How Does This Record Gold Price Impact Investors? A soaring gold price naturally raises questions for investors. For those who already hold gold, this represents a significant validation of their investment strategy. For others, it might spark renewed interest in this ancient asset. Benefits for Investors: Portfolio Diversification: Gold often moves independently of other asset classes, offering crucial diversification benefits. Wealth Preservation: It acts as a robust store of value, protecting wealth against inflation and economic downturns. Liquidity: Gold markets are highly liquid, allowing for relatively easy buying and selling. Challenges and Considerations: Opportunity Cost: Investing in gold means capital is not allocated to potentially higher-growth assets like equities or certain cryptocurrencies. Volatility: While often seen as stable, gold prices can still experience significant fluctuations, as evidenced by its rapid ascent. Considering the current financial climate, understanding gold’s role can help refine your overall investment approach. Looking Ahead: The Future of the Gold Price What does the future hold for the gold price? While no one can predict market movements with absolute certainty, current trends and expert analyses offer some insights. Continued geopolitical instability and persistent inflationary pressures could sustain demand for gold. Furthermore, if global central banks continue their gold acquisition spree, this could provide a floor for prices. However, a significant easing of inflation or a de-escalation of global conflicts might reduce some of the immediate upward pressure. Investors should remain vigilant, observing global economic indicators and geopolitical developments closely. The ongoing dialogue between traditional finance and the emerging digital asset space also plays a role. As more investors become comfortable with both gold and cryptocurrencies, a nuanced understanding of how these assets complement each other will be crucial for navigating future market cycles. The recent surge in the gold price to a new record high of $3,704 per ounce underscores its enduring significance in the global financial landscape. It serves as a powerful reminder of gold’s role as a safe haven asset, a hedge against inflation, and a vital component for portfolio diversification. While digital assets continue to innovate and capture headlines, gold’s consistent performance during times of uncertainty highlights its timeless value. Whether you are a seasoned investor or new to the market, understanding the drivers behind gold’s ascent is crucial for making informed financial decisions in an ever-evolving world. Frequently Asked Questions (FAQs) Q1: What does a record-high gold price signify for the broader economy? A record-high gold price often indicates underlying economic uncertainty, inflation concerns, and geopolitical instability. Investors tend to flock to gold as a safe haven when they lose confidence in traditional currencies or other asset classes. Q2: How does gold compare to cryptocurrencies as a safe-haven asset? Both gold and some cryptocurrencies (like Bitcoin) are often considered safe havens. Gold has a centuries-long history of retaining value during crises, offering tangibility. Cryptocurrencies, while newer, offer decentralization and can be less susceptible to traditional financial system failures, but they also carry higher volatility and regulatory risks. Q3: Should I invest in gold now that its price is at a record high? Investing at a record high requires careful consideration. While the price might continue to climb due to ongoing market conditions, there’s also a risk of a correction. It’s crucial to assess your personal financial goals, risk tolerance, and consider diversifying your portfolio rather than putting all your capital into a single asset. Q4: What are the main factors that influence the gold price? The gold price is primarily influenced by global economic uncertainty, inflation rates, interest rate policies by central banks, the strength of the U.S. dollar, and geopolitical tensions. Demand from jewelers and industrial uses also play a role, but investment and central bank demand are often the biggest drivers. Q5: Is gold still a good hedge against inflation? Historically, gold has proven to be an effective hedge against inflation. When the purchasing power of fiat currencies declines, gold tends to hold its value or even increase, making it an attractive asset for preserving wealth during inflationary periods. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin’s price action. This post Unprecedented Surge: Gold Price Hits Astounding New Record High first appeared on BitcoinWorld.
Share
Coinstats2025/09/18 02:30