Kadena 40% jump; Reasons for the rise in the price of the popular digital currency of miners

The price of the digital currency Kadena, which has long been one of the most popular tokens among miners, rose 40 percent yesterday as most digital currency markets declined; But what led to a significant jump in Cadena’s prices in this turbulent market?

According to Kevin Telegraph, in both bullish and bear markets, there are always countless projects focused on long-term sustainability.

Kadena is one of the projects that has attracted the attention of many traders despite the weak digital currency market in recent days. The new and forward-looking approach of this project, as well as the Chinese blockchain protocol, which turns out to be a first-tier network, made it possible for the token to grow in the price of this turbulent market.

Kadena was down $ 5.95 in the early hours of trading on March 11 (March 20), which then jumped 40% to a high of $ 8.28 and increased its daily trading volume by 784% to $ 325 million. .

Kadena 40% jump;  Reasons for the growth of the new currency, popular among miners
Four-hour Kadena price chart in dollars.

The rise of the Bainance trading market, the launch of Kadena’s first decentralized exchange and the network’s plans for the future, such as the launch of standard NFT and the creation of representative tokens (such as Bitcoin Rapids) on the network, were among the factors that increased Cadena prices helped .

Kadena enters the Bainance market

The main reason for the increase in the price of Kadena on March 11 (March 20) was the arrival of this token in the Bainance exchange. According to the announcement, the daily trading volume of Kadena on the stock exchange reached 325 million dollars. Earlier, the volume of transactions in Kadena in the KuCoin exchange, which also has many Iranian users, increased to 117.4 million dollars.

Launch of new projects in the Kadena network

The launch of new protocols on the Kadena network is the second factor that has contributed to the rise in Kadena’s price. One of these projects is the launch of the first decentralized exchange in the Kadena ecosystem. This exchange is called Kaddex and does not charge traders any fees.

In addition, the Codex exchange must be integrated with the Simplex digital currency buying platform. With this merger, Fiat’s currencies will somehow enter this decentralized and growing financial ecosystem.

The Hypercent Launchpad platform is another protocol that was recently launched and integrated with the Kadena network. This cooperation will allow the launch of various projects in the Kadena network and the use of the ZoidPay payment program. ZweidPay is a payment tool that consumers can use to purchase digital currency directly from popular websites.

Programs that can raise the price of Cadena again

The third factor that has drawn traders’ attention to Kadna is the network’s plans for the future. The default setting for NFT, called Marmalade, is one such program.

The launch of local representative tokens such as kBTC, kETH and kUSD are other things the network intends to do in the future. With the help of these representative tokens, Cadena will enter more international exchanges, develop the infrastructure of the lending platform will be easier and will be able to create an innovative and stable plan for its mining sector.

In addition, the project developers announced plans to build several test networks to build a communication bridge based on the Atrium virtual machine, as well as a bridge from the Kadena to Kazmas network. These bridges will facilitate Kadena’s interaction with other Chinese blockchain ecosystems.

After Kadena 40% jump; Reasons for the rise in prices of popular digital currencies Miners first appeared in Digital Currency.

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