Kadena price prediction: What’s next for KDA?

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Kadena (KDA) is worth about 125% more than it was a year ago, but what’s the latest price prediction?

Kadena logo on a smartphone                                 
Kadena claims to be the only layer-1, proof-of-work (PoW) network that can deliver on scalability – Photo: Shutterstock
                                

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Kadena was founded in New York by Stuart Popejoy and Will Martino in 2016 based on the belief, according to the crypto’s website, “that blockchain could revolutionise how the world interacts and transacts”. 

The project, like others, claims to have preserved the security of blockchains such as Bitcoin while also being faster, more efficient and flexible.

While the crypto has performed extremely well in the fourth quarter of 2021, the crypto market has become increasingly saturated with start-ups looking to accelerate the mainstream uptake of blockchain by developing technology to make it more scalable.

Combined with the current bear market, can Kadena overcome its rivals and deliver the golden chalice? Does the future of the KDA coin look bright? Before we look at a Kadena coin price prediction, let’s do a quick overview of the coin.

What is Kadena (KDA)?

According to its website, Kadena’s public blockchain, Chainweb, is the only layer-1, proof-of-work (PoW) network that can deliver on scalability, thanks to its supposedly unique sharding system.

The company claims the PoW model employed to verify bitcoin remains the most secure. Unfortunately, as cited in the scalability trilemma, historically this high security has come at the cost of scalability, and vice versa.

Through using what it says is a “revolutionary braided multi-chain architecture”, Kadena claims to fix these issues, rendering the blockchain capable of meeting the demands required for it to become effective in processing mainstream transactions. 

In fact, the website claims its platform possesses adequate capabilities to settle the more than nine million trades executed on the New York Stock Exchange daily.

By keeping the blockchain on a single platform, the project claims to be more developer-friendly, as layer-2 solutions can hinder the development of applications.

From the Chainweb whitepaper

The Chainweb founding documents outline the protocol’s “significant advances over existing approaches in scalable public blockchain”.

According to the whitepaper: “Chainweb provides unparalleled increases in PoW throughput while keeping the global hashrate, and thus energy required, constant. The confirmation latency of Chainweb is also significantly decreased from traditional PoW and is potentially even lower than that of PoS [proof-of-stake] systems.”   

The document goes on to say: “Chainweb avoids liquidity and centralisation problems associated with using staked channels for scaling while also staying in the existing global regulatory context. We present Chainweb as a solution by which PoW can be scaled such that it supports true decentralised economy.”

Smart-contract system

Pact, the smart-contract system employed by the project, is, according to Kadena’s literature, readable by non-developers. The language contains a variety of features, including error messaging, contract upgradability and support for interoperability.

The project claims the Pact language “facilitates transactional logic with an ideal combination of functionality in authorisation, data management and workflow”.

The ecosystem also includes a private blockchain called Kadena Kuro, which uses Byzantine Fault Tolerance, a design that supposedly works best for business uses. Since 2018, one healthcare consortium has been using this private blockchain to streamline the process of collecting and maintaining insurance-provider information.

According to its website, Kadena has developed partnerships with other major crypto platforms – including Cosmos, Coinmetro and Polkadot – to expand its offering.

While the ecosystem does charge consumers marginal transaction fees, businesses that adopt the crypto’s technology can get rid of any fees on behalf of their customers.

The Kadena (KDA) coin is the native currency used to pay to compute on the blockchain, and miners are rewarded for mining blocks with KDA.

Kadena’s founders

Stuart Popejoy completed a BA in comparative literature at the University of California. Upon graduating, he relocated to New York and worked as a programmer at a range of companies. After working as head of trading systems at Pink Sheets, he was hired by Pragma Securities as head of algorithmic trading.

In 2011, Popejoy became executive director of the new products division at JPMorgan, where he worked on blockchain and smart contracts.

Will Martino completed a BA in economics and mathematics at Yale University. He subsequently worked in client services at ION Trading, before being hired by Barca Capital as a quantitative researcher.

After taking up a research post at Yale for six years, Martino became a senior science adviser at the US Securities and Exchange Commission. Before founding Kadena, Martino worked as a financial technology manager at JPMorgan, where he was the lead engineer for the open-source Juno project – a Byzantine Fault Tolerance consensus protocol designed for blockchain and smart contract applications.

Before looking at the Kadena price prediction for 2022 and beyond, let’s look at the recent performance of the coin.

Kadena’s performance to date

The coin rose slightly after its launch, from $0.3933 on 4 June 2020 to $0.6925 on 12 August. The coin subsequently dropped to $0.1423 on 23 January 2021, before surging to $1.7631 on 9 April.

Soon after that, the coin dropped to $0.3442 on 24 July 2021 before rising to $2.1707 on 19 September. The coin subsequently dropped to $1.4568 on 28 September 2021, before spiking to a record high of $24.16 on 11 November. The KDA price then corrected to $9.6413 on 13 December 2021 before rising to $15.36 on 26 December. The KDA price dropped to $5.0222 on 22 January 2022.

Following an announcement that the Backalley token sale would be powered by the Kadena blockchain, the value of the KDA coin spiked and rose to $9.853 on 9 February 2022. However, the price slipped further towards the end of the month, and by 28 February the coin was trading at $5.89. From 7 March, the coin started sideways trading around the $6.30 mark, and neither bulls nor bears dominated.

Towards the end of the month, there was a significant uptrend, with KDA opening on 1 April 2022 at $7.01. However, there was a steep correction in the market, and it went on to close the month of April at $4.08.

Despite the announcement of a new grant on Twitter, worse news was to come in May. The token sank to $1.38 after a market-wide crash. The token made some headway in the following weeks, but another flash crash earlier in June saw the value of the crypto market dip below one trillion, and Kadena was in no way immune to the macro headwinds. By 13 June, the token was trading at lows of $1.36. However, since that price point, the token has made some decent gains. 

As we move further into the third quarter of 2022, the conditions in the broader crypto markets remain hostile, although forecasters are still hopeful. As of 25 August, the token is trading at $1.70. 

Since its all-time high ($28.25) in November 2021, however, the coin has lost about 94% of its value. There is a maximum supply of one billion Kadena coins and a circulating supply of almost 198 million coins, giving Kadena a market capitalisation of around $336m.

How does all this information affect a Kadena price prediction?

KDA price prediction: Expert opinion

Bear in mind that digital forecasters use algorithms to make their predictions. While useful as a reference, they can not take into account all market conditions, and checking forecasters’ Kadena price predictions should be just one element of your investment due diligence.

With all that in mind, let’s look at some Kadena coin price predictions…

WalletInvestor, in a bearish coin price prediction, thinks KDA could go down to $0.10 in a year’s time, suggesting it is a “bad long-term (one-year) investment”.

Gov Capital estimates the KDA price prediction for 2022 to break the $10 mark as soon as November. The site also provides a very optimistic price prediction, suggesting the coin could reach $12.15 in a year and $95.57 in five years’ time.  

DigitalCoinPrice suggests that KDA could be worth around $2.39 in September 2022 before decreasing to $2.28 towards December. A general year-on-year uptrend will follow and in 2023, the site forecasts the coin should be worth an average of $2.42. The website’s Kadena price prediction for 2025 stands at $3.23, and $7.80 in 2030.

PricePrediction.net expects greater long-term gains, with a Kadena price prediction for 2030 at $45.30.

FAQs

How many Kadena coins are there?

There is a maximum supply of one billion Kadena coins and a circulating supply of almost 198 million coins.

Is Kadena a good investment?

Potentially. The coin has performed very well over the past year. The project has a solid team behind it and has developed an array of impressive partnerships. 

However, always remember that the crypto market is highly volatile, and that the price of all tokens and coins can go down as well as up. Never invest more than you can afford to lose, and bear in mind that past performance is no guarantee of future returns.

Will Kadena go up?

Lots of analysts forecast the coin will go up in the future, with some forecasts predicting it could rise quite significantly.

It is worth remembering, however, that forecasts – especially longer-term ones – are better viewed as indicators rather than absolutes.

Should I invest in Kadena?

Investing is a highly personal endeavour. Do your own research and try to keep up-to-date with any developments within the Kadena ecosystem that could boost its prospects.

Remember, cryptocurrencies are highly volatoile and investing can be risky. It is important never to invest money that you cannot afford to lose.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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