Sky is The Limit for this Ethereum-Killer

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The Kade­na price has had a spec­tac­u­lar ral­ly in the past few months. The KDA price is trad­ing at $8.54, which is just a few points below its all-time high of $8.78. The price is about 3,870% above its low­est lev­el in June while its total mar­ket cap­i­tal­iza­tion has jumped to more than $1.9 bil­lion. It is the 91st biggest cryp­tocur­ren­cy in the world.

What is Kadena coin and is it an Ethereum-killer?

Kade­na is an Ethereum-killer that many peo­ple have nev­er heard about. It is a rel­a­tive­ly new blockchain project that enables devel­op­ers to build qual­i­ty decen­tral­ized appli­ca­tions. It has smart con­tract fea­tures whose lan­guage is known as Pact. 

In addi­tion to this, it has Kuro, irs layer‑2 blockchain that sup­ports about 8,000% trans­ac­tions per sec­ond. This is sig­nif­i­cant­ly fast speed con­sid­er­ing that Ethereum han­dles less than 20 TPS while Solana han­dles about 2,000.

Anoth­er fea­ture of Kadena’s blockchain is that its Lay­er 1 and Lay­er 2 can have about 480,000 TPS. Also, its trans­ac­tions have no addi­tion­al costs and it has also part­nered with oth­er lead­ing blockchain projects like Ter­ra, Polka­dot, and Cosmos. 

There­fore, Kade­na could prove to be a major Ethereum-killer as more devel­op­ers shift to its net­work. Besides, the devel­op­ers have already raised about $15 mil­lion from a group of investors like Susque­han­na, SV Angel, and InBlockchain.

Kadena price prediction

The dai­ly chart shows that the Kade­na price has been in a strong bull­ish trend in the past few months. The ral­ly got super­charged when it rose above the key resis­tance lev­el at $1.8565, which was the pre­vi­ous all-time high. The coin has also formed a bull­ish pen­nant pat­tern, which is usu­al­ly a bull­ish sig­nal. It is also being sup­port­ed by the 25-day and 50-day mov­ing aver­ages while the RSI has been rising. 

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There­fore, for now, the sky is the lim­it, with the next key resis­tance lev­el being at $10. On the flip side, a move below the key sup­port at $5 will inval­i­date the bull­ish view.

Kadena Price

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