Kadena (KDA) spiked 7% today; Will its uptrend continue?

Vinod Dsouza
kadena coin
Source: Coingecko

Kadena Coin (KDA) is among the little-known gems in the market that has delivered staggering returns to early investors. KDA is up +7,084.7% since the last 365-trading days giving investors significant profits. It also reached the market cap rank of 85 today after it spiked +7.2%, and could touch double digits in green. It regularly topped the Crypto Bubbles website with its gains but went off the radar only in January.

KDA has a history of trading in the green while the crypto market is down but the trend didn’t continue in 2022. In fact, KDA dipped in tandem with the market after Bitcoin crashed this month.

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While 2021 was kind to Kadena, 2022 started off as an uphill task after it dipped to new weekly lows. It’s down -17.6% since the last 14-trading days and bled out most of its monthly profits. However, KDA seems to have recovered today and is displaying bullish sentiments in the market.

Kadena became the talk of the town after it spiked enormously between November to December 2021. In October 2021, KDA was just $5 and by the end of November, it touched $27. It reached its all-time high of $27 in just a span of a month. December gave KDA a death blow leading up until January 2022 as it dipped -63.3% from its ATH.

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Can Kadena Spike in 2022?

Despite being down, KDA is still the most promising crypto and could repeat its 2021 rise this year as well. KDA runs on its own layer-2 blockchain network and provides developers access to build their own decentralized applications on its platform. It also boasts of smart contract features and runs on a language called Pact.

KDA is on the radar of investors as it is in direct competition with Ethereum. During its initial days, KDA had touted itself as the ‘Ethereum killer’ but later removed the language from its website.

In addition, Kadena seems to be superior to Ethereum as it supports 8,000 transactions per second while ETH is far behind. Moreover, if there’s something in line to be the ‘next ETH’ in the market, all roads lead to Kadena itself. KDC is a long-term investment and might not be available for $10 in the coming years.

At the time of publishing, Kadena (KDA) was trading at $10.17 and is up +7.2% in the 24-hours day trade.