Kadena Coin (KDA) had a stellar run last year as it spiked a phenomenal 11,250% between November 2020 to 2021. Early investors made a fistful of cash during the bull run investing crypto that kept on delivering gains. A mere $1,000 invested in Kadena Coin in November 2020 would have turned to $112,500 by the end of 2021.
Also, KDA was trading at $5 in October last year and shot up to $27 in November, reaching its all-time high. Nonetheless, its bull run came to a screeching halt as investors sold their holdings for profits and KDA’s dip began. Add to its misery, the Bitcoin crash in January sent Kadena plummeting and reached its October lows of $7.
Just when it began dusting itself from the rubbles, the Russia-Ukraine conflict caused another crash this month making it dwindle to $5. However, Kadena gained steam this week and clawed back to $7.
Will Kadena Coin Have Another Bull Run in 2022?
Kadena touts itself as the ‘Ethereum killer‘. It runs its blockchain project that enables developers to build quality decentralized applications on its platform. In addition, KDC runs on Kuro, which is a layer-2 blockchain supporting 8,000 transactions per second. KDA is faster than its rival Ethereum, which runs less than 20 TPS, and Solana, which runs only 2,000 TPS.
KDA is down -73.9% from its all-time high of $27.64. Despite Kadena being available at a discount, it is advised to remain cautious before taking an entry position as the Russia-Ukraine conflict is raging. The market can react strongly if another untoward incident occurs due to the war and plunge further.
A bull run at the moment is nowhere on the horizon as experts predict a tumultuous year for both the crypto and stock market. It is advised to wait for further dips and then take an entry position into Kadena Coin.
Moreover, KDA should be seen as a long-term investment and can deliver good returns as it’s tied to utilities in the blockchain network. KDA should be considered more of a long-term investment than a short-term to gain its maximum potential.
At press time, Kadena Coin (KDA) was trading at $7.49 and is up 2.7% in the 24-hours day trade.