Kadena Coin (KDA) was once considered a gem in the crypto market that kept on delivering phenomenal results to investors. Between 2020 and 21, Kadena spiked +10,000% in a year making early investors a handful of profits. In October last year, KDA was trading at $5 and the very next month it reached its all-time high of $27 in November. The drastic jump made it stay on top of the Crypto Bubbles website for a month toppling every coin along its way.
It went from $0.06 in March 2020 to $27 in just 20 months. A mere $1,000 invested in Kadena Coin during that period would have given returns of $112,500.
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Just when investors thought that its bull run has begun, Kadena’s performance came to a screeching halt. After touching its ATH, KDA began dipping in the indices and is now down for close to four months.
Kadena was hovering over the $15 mark at the start of the year. Since 2022 started on the back foot, KDA was mostly trading sideways in January for three weeks. The crypto market crash during the end of the month made the coin fall to $8 straight shedding half of its value.
Just when it dusted itself from the crash, the Russia Ukraine war sent the markets tumbling and KDA fell to $5. The coin faced unending woes after touching its ATH and is yet to recover from its debacle.
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How Can Can Kadena Coin (KDA) Go From Here & Can it Cross $10 This Month?
Kadena is now trading at $7 in the indices and is moving up in price at a snail’s pace. The once profit-generating coin is barely showing any momentum testing the patience of its investors. Just a few months ago, KDA was the favorite coin for both long-term and day traders. It displayed good volatility in price giving day traders ample amount of time to decide when to pull and book profits.
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However, day traders are now staying away from Kadena as its price barely moves. KDA was under the top 70 cryptos last year, but is now positioned at 99 and could be out of the top 100 coins list anytime soon.
It is advised to stay out of Kadena, as the market is facing corrections after being up for 5 days. Bitcoin which was nearing to cross the $47,000 mark is now down to $44,900 today and dipped by 3.5% in the day trade. The market shot up temporarily at the start of April and is now seeing another dip.
BTC will drag the market down along with it and Kadena goes in tandem with Bitcoin’s performance. Another dip for KDA is expected and it’s highly unlikely the coin can cross the $10 barrier this month. However, Kadena is good for the long term and investment at this price could deliver good returns as the years’ pass.
At press time, Kadena Coin was trading at $6.99 and is down -7% in the past 24-hours. Nevertheless, it is still reflecting over 900% gains in the past 365-days.