The Kadena organization is shutting down, and while the JP Morgan vets’ blockchain will remain online, the KDA token is quickly plummeting.
The company behind the Kadena blockchain announced Tuesday that it is shutting down—and while the decentralized blockchain will remain online, the KDA token tied to it has quickly plummeted in price following the news.
The Kadena organization wrote on X that it “is no longer able to continue business operations and will be ceasing all business activity and active maintenance of the Kadena blockchain immediately.”
Traders reacted swiftly to the news, with the price of KDA currently down more than 47% as of this writing at a price of $0.121. That’s down more than 99% from the all-time high price of $27.64 set in 2021, according to data from CoinGecko.
