"Did you buy a Land Rover? How could you secretly endure hardship and buy a Land Rover? I have no good mood left! You're really a dog, what makes you think you can buy a Land Rover? With your temperament, can you even drive a Land Rover?"
"What are you doing?"
"I'm going to smash it for you. You're really vain. Did you really buy a Land Rover? Is it imported? Can you sell it? Please, sell it! If you sell it, I’ll treat you to a drink at Mixue Ice City. Hurry up and sell it! I want what's good for you; I didn't expect it to be this good. How could you secretly buy a Land Rover? You bastard, sell it, I beg you, I beg you, sell it, sell it..."
↑↑↑↑ The above is the scene when I went to play with my friends after picking up the car.
Yesterday, I organized my phone and saw this memory video. The memories of the last bull market slowly came back to me. The crash on March 12 caused me heavy losses, and I even thought about quitting at one point. In May 2020, I re-entered the market with only 3,000 yuan left. At that time, I had my eyes on a new coin on Binance, which was priced around 0.6. After three months of rolling operations, my assets grew to 20,000 USDT, and then I went to play with Bitcoin. By February, my assets reached 40,000 USDT. At that time, altcoins started to rally, and I went all-in on KAVA with 2x leverage when the price was $1. On March 10, 2021, I liquidated everything at a price of $6. I was really scared by the March 12 crash of 2020. By this time, my assets had reached around 500,000 USDT, which felt sufficient, so I started investing in wealth management. Earning over 300 yuan a day felt good for daily expenses. Then came the significant drop on May 19, and I was really glad I managed to dodge it. Based on past experience, the second half of the year is usually a crazy bull market. I re-entered at the end of July, feeling this was the last moment of madness. At that time, I took out 200,000 to buy Bitcoin, 150,000 to buy Ethereum, and another 150,000 to buy my old friend KAVA again at $3, this time without leverage, all spot purchases. By September, KAVA had risen to $9 and then began to decline. Just before National Day, it had dropped to around $4.7, and a week later, it rebounded above $6. I quickly liquidated at $6, making a maximum profit of 300,000 USDT, and thankfully made a profit of 150,000 USDT when I sold KAVA. By this time, the value of Bitcoin and Ethereum had already reached 1 million USDT. I intended to liquidate everything by Christmas. With three days left until National Day, I directly withdrew 300,000 USDT and went to the 4S store to pick up my Land Rover.
Looking through old phone files, this video triggered my memories of the road to recovery. I opened the exchange and searched for KAVA. Wow, how is the price only $0.36? From a high of $9.2 to a decline of 96%, saying it’s going to zero wouldn’t be an exaggeration, but looking at the market cap, it’s still around $400 million, still a big project! Then I looked up some information about this project and thought I’d share it with everyone since I'm idle. #美国宏观经济数据上链
First, what is the KAVA project about?
KAVA @kava is a project that initially entered through DeFi lending, combining the architecture of Cosmos and Ethereum. Now it is transforming into an AI-first blockchain. In simple terms, it is an underlying public chain, but it has a 'dual-chain architecture': one side has the rapid interoperability of Cosmos, and the other side is Ethereum's EVM compatibility. This makes it neither as closed as a pure Cosmos chain nor as congested as Ethereum. The core of KAVA is DeFi, but it has now upgraded to AI-driven: it's not just talking about AI, but using KAVA tokens to settle AI computing fees, automate lending, and optimize liquidity pools.
The project ecosystem has over 100 protocol teams developing dApps, with a $750 million Kava Rise incentive fund rewarding top protocols monthly, attracting developers to join. The mainnet upgrade to Kava 15 in 2024 will achieve zero inflation (no more unlimited issuance).
The total supply of KAVA is unlimited, but after the 2024 upgrade to zero inflation, it will be basically fixed at 108 million coins. The current circulation is 108.2 million coins, ranking 138th in the market, with a market cap of about 400 million US dollars. Most KAVA is used for staking and governance, with a high lock-up rate (over 120 million coins staked).
Historical price trend: from peak to trough, is this a bottom rebound now?
KAVA launched on Launchpad in 2019, with an initial price of $0.46. It surged to an ATH of $9.19 in the 2021 bull market (September), with a market cap exploding, benefiting from the DeFi boom. However, it crashed to a low of $0.25 during the 2022 bear market, and in August 2024, it explored a low of $0.28 (historical low).
Overall trend: down 94% from ATH, but rebounded 20% from $0.28 this year, up 2% in the last week, with a 24-hour trading volume of $24.3 million.
Why did it fall? The overall market is bearish + DeFi is weak. However, after the AI transformation announcement, the price stabilized in the range of $0.35-0.45, without breaking the bottom.
Key support at $0.32-0.35 (historical low + 50-day moving average). If it holds, it won't break $0.28. Resistance at $0.43 (recent high). If broken, it can surge to $0.50-0.60 (Fibonacci retracement levels).
Disclaimer: This article is only personal analysis and does not constitute investment advice. Investment carries risks, and you should be cautious when entering the market! DYOR!
