The Cryptocurrency experts are torn at the moment over the KDA price prediction. Kadena has dropped in price significantly throughout the year 2022. This coincides with the rest of the crypto market which continues to go through a crisis.
Due to great volatility, cryptocurrencies are facing an immense drop in value. It’s no secret that the market is uncertain. The United States of America is in a face-off with a recession, inflation is increasing, and we are under a constant threat of COVID-19 hitting back, yet again. Moreover, the conflict between Ukraine and Russia has put the market in the backseat. As a result of the ongoing universal crises, the stock market and the crypto industry suffer. Investors are amid making tough decisions to secure their portfolios.
You must be facing similar dilemmas and confusion as to which direction to opt for in this situation. Is this a good time to invest in Kadena? Let’s have a closer look at this cryptocurrency and everything the experts have to say about its future.
KDA Price and Expectations
Experts struggle with the predictions for Kadena, primarily because the general forecasts are shaky. Some expect Kadena to regain its value over a couple of years. KDA witnessed an all-time high of USD 28.25 in the year 2021. There are many experts who believe that Kadena will recover when the market regains its grip.
Kadena is currently trading at USD 1.48 approximately as of 8 September 2022. Despite coming across a few surges, Kadena has remained consistent at around USD 2 since November 2021. KDA has witnessed a 90% downfall since its all-time high.
However, Kadena remains to be one of the largest and most popular cryptocurrencies with a market capitalization of USD 293 million according to CoinMarketCap.com. This information has played a major role in the continued interest of investors in KDA. It offers unique blockchain features which tempt crypto enthusiasts to keep an eye on its value and progression.
The value of Kadena is subject to change in accordance with the crypto market. As the industry faces a crash, even Bitcoin, which capitalizes on the market, has seen a huge blow. Experts don’t expect the situation to change till the end of the year 2022. As the world is facing a recession, the prediction as to when the market regains some control becomes uncertain. However, crypto specialists are sure about the standing of Kadena in the industry. This blockchain is here to stay.
Insights on Kadena History
Kadena was founded by Stuart Popejoy and Will Martino in the year 2016. Since then KDA has managed to raise millions of dollars and build a developer-oriented and scalable blockchain. It operates on the mechanism of Proof-of-Work and features security protocols similar to Bitcoin. By 2021, Kadena was predicted to become the next giant after Bitcoin and caught the eye of investors around the globe. The primal reason is the features and stability it offers to those on the platform. The sky was the limit as Kadena was up more than 6000% in 2021.
When the market took a hit, Bitcoin and Ethereum saw a downfall. Kadena simultaneously dropped in value.
Is Kadena worth investing in?
Kadena may seem like it’s back to square one, however, it proves to have the potential and the capacity to grow again when the market becomes stronger. Before you consider investing in any cryptocurrency, you may want to bear in mind the risks and the volatile nature of this industry. You should look into your due diligence and do your own homework before putting down an investment.
Having said that, experts don’t deny the potential of Kadena as the next big thing. The crash is not due to KDA becoming infamous. The market in general is going through a tough period and would require time to regain its balance. This may be an ideal time to invest in Kadena as its value is on the lower end. If you’re one of the investors who are looking at the bigger picture and see KDA recovering in the next 6 to 12 months, this may be the right time to go for it. The next year is said to be a hopeful one for the crypto industry.
Consider your financial goals and move forth towards building your portfolio.