The Kadena team announced the immediate suspension of operations, causing the price of KDA to plunge by more than 60% in a single day.
2025-10-21 22:48:10
The Kadena team announced on Tuesday that it will immediately stop all business operations and active maintenance due to unfavorable market conditions. The team expresses its gratitude to all supporters and regrets that it will not be able to continue promoting this unique decentralized project. The Kadena native token KDA fell by more than 60% on the day and is currently priced at about $0.11. It previously hit a high of $27 in 2021. The Kadena blockchain will continue to operate until miners and maintainers withdraw. About 566 million KDA mining rewards will continue to be distributed until 2139. The project was founded in 2019 by former SEC and JPMorgan employees Stuart Popejoy and William Martino, who worked on the precursor to the JPMorgan Kinexys blockchain, and Kadena has raised around $15 million to date.
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