Based on Bijing.com, Kadena, the blockchain project behind the KDA token, is gradually ceasing operations due to market conditions. The organization has halted all business activities, though the proof-of-work network will remain active until miners exit. The KDA token has dropped 59% to $0.092, a sharp decline from its 2021 peak above $27. Founded in 2019 by alumni of the U.S. SEC and JPMorgan, the project raised $15 million to promote institutional adoption of cryptocurrency.
Kadena to Wind Down Operations as KDA Token Plummets 60%
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