Kadena winds down operations due to unfavorable market conditions, KDA token drops 60%
"We are tremendously grateful to everybody who has participated in this journey with us. We regret that because of market conditions, we are unable to continue to promote and support the adoption of this unique decentralized offering," -
Kadena team
Presently, $KDA is trading at $0.092, down over 60% since announcement. The token had hit an all-time high above $27 in late 2021.
The proof-of-work blockchain will remain in operation until miners and maintainers depart, though the Kadena team will cease all business activity and active maintenance immediately.
Over 566 million KDA remain to be distributed as mining rewards, continuing until 2139 as per team.
